IT-204.1: New York Corporate Partners' Schedule K (2025)
New York · NY DTF · Used for tax years 2025
Form IT-204.1 is New York Corporate Partners’ Schedule K for 2025 under Tax Law Article 9-A. It reports entire net income additions and subtractions, assets and liabilities, and investment capital information for corporate partners whose New York tax filing status is a C corporat
What you'll need
Have the following information available to complete the applicable parts of the schedule:
- The partnership’s name as shown on Form IT-204 and its EIN.
- Federal Form 1065, line 15, for total interest expense.
- Details of entire net income additions and subtractions, assets, liabilities, and fair market values.
- Investment details, including asset descriptions or security identifiers, shares acquired or sold, acquisition and sale dates, average fair market values, and directly attributable liabilities.
- Income, receipts, property, and payroll information for the geographic categories shown on the form.
- Previously reported investment values and income for the prior-year investment sections, if applicable.
Common mistakes
- In the investment capital tables, enter only directly owned assets or investments in items A through F and “Total from additional sheets.” The tables have a separate “Total from partnerships” row.
- Leave Apportionment: Part 2, lines 8 and 44 blank. Both are marked “This line intentionally left blank.”
- Exclude general executive officers from the wages and compensation reported on payroll line 54.
- Exclude employees with partnership-wide authority from the average number of full-time New York State employees reported on line 55.
Questions people ask
What tax year does this version cover?
The form is for calendar year 2025 or a tax year beginning in 2025. It provides spaces for the tax year’s beginning and ending dates.
When does the entire net income information apply?
The form labels this information for use when the corporate partner’s New York tax filing status is a C corporation.
Does the form separate stocks actually held more than one year from stocks presumed held that long?
Yes. Investment capital Part 2 covers stocks actually held more than one year. Part 3 covers stocks presumed held more than one year. Parts 5 and 6 address prior-year stocks that did not meet the holding-period requirement and related prior-year gross investment income.
What geographic categories appear in the apportionment tables?
Apportionment: Part 1 has property columns for the Metropolitan Commuter Transportation District (MCTD) and New York State. Part 2 has columns for the MCTD, New York State, and everywhere.