IT-211: Special Depreciation Schedule (Revision)
New York · NY DTF · Used for tax years 2024
New York Form IT-211, Special Depreciation Schedule, reports federal and New York depreciation and sales or other dispositions of section 612(g) property. It summarizes amounts used for New York addition and subtraction modifications and is submitted with Form IT-201, IT-203, IT-
Who files this form
Form IT-211 must be used by New York taxpayers who elected to deduct special depreciation on qualifying property acquired before 1969 instead of their federal depreciation deduction. It is also used to report the sale or other disposition of section 612(g) property.
What you'll need
Have the information requested on the form ready:
- Name(s) as shown on your return, Social Security number or employer identification number, tax year ending date, and return type.
- For depreciation: property description and location, acquisition date, federal cost or other basis for property acquired after December 31, 1963, New York depreciation for prior years after December 31, 1963, and federal and New York depreciation claimed this year.
- For a sale or other disposition: property description, acquisition date, manner of disposition, adjusted federal basis and New York basis at disposition, and the excess federal basis over New York basis.
How to file
- Enter the tax year ending date and mark the box for your return type.
- Complete Part 1 for depreciation information and Part 2 for sales or other dispositions of section 612(g) property, as applicable.
- In Part 3, carry line 2, column E to line 5 and line 4, column F to line 6. Add lines 5 and 6 on line 7.
- Individuals and partnerships: enter the line 7 total on Form IT-225, line 1, in the Total amount column, with addition modification A-210 in the Number column.
- Line 8 carries the amount from line 2, column F to Form IT-225, line 10, in the Total amount column, with subtraction modification S-207 in the Number column. Estates and trusts are directed to see the instructions for lines 7 and 8.
- Submit Form IT-211 with Form IT-201, IT-203, IT-204, or IT-205.
The supplied form does not give a mailing address or e-filing directions.
Common mistakes
Remember to submit Form IT-211 with Form IT-201, IT-203, IT-204, or IT-205, as the form directs.
Questions people ask
What property does the special depreciation election cover?
The form describes qualifying property acquired before 1969 for which the taxpayer elected New York special depreciation instead of the federal depreciation deduction.
Can this form report a sale or other disposition?
Yes. Part 2 is for the sale or other disposition of section 612(g) property. It asks for the manner of disposition and the federal and New York bases at disposition.
Which return do I submit Form IT-211 with?
Submit it with Form IT-201 for residents, IT-203 for nonresidents and part-year residents, IT-204 for partnerships, or IT-205 for estates and trusts.
What does the form tell estates and trusts to do for the summary transfers?
The form directs estates and trusts to see the instructions for lines 7 and 8.