Topic Thread

NYC 1127 payments

  • 1.  NYC 1127 payments

    Posted 03-13-2018 07:42
    ​​Would these payments be deductible as a miscellaneous itemized deduction as they are a condition of employment?

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    Michael Jaffe
    CPA
    MICHAEL B. JAFFE, CPA PC
    Commack NY
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  • 2.  RE: NYC 1127 payments

    Posted 03-14-2018 03:40
    It is deducted as an Itemized Misc Deduction. It is done automatically by Lacerte when the 1127 form is prepared.

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    Barry Siegel
    CPA
    BARRY SIEGEL, CPA
    Plainview NY
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  • 3.  RE: NYC 1127 payments

    Posted 03-14-2018 09:26
    NYC 1127 payments are a miscellaneous deduction for 2017.  In 2018, the payments will not be deductible because the 2017 Tax Reform eliminated miscellaneous deductions.

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    Ruth Sattig Betz
    RUTH A. SATTIG BETZ, CPA
    Farmingdale NY
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  • 4.  RE: NYC 1127 payments

    Posted 03-14-2018 11:27
    Does anyone know why they are a miscellaneous deduction when they are actually NYC withholding?

    Alfonso J. Mollica CPA

    Alfonso J. Mollica CPA, P.C.

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  • 5.  RE: NYC 1127 payments

    Posted 03-16-2018 10:00
    NYC does not have a non-resident tax, so it is deducted as a misc itemized deduction.

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    Barry Siegel
    CPA
    BARRY SIEGEL, CPA
    Plainview NY
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