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NY Trust with real estate income in Connecticut

  • 1.  NY Trust with real estate income in Connecticut

    Bronze Most Valuable Member
    Posted 08-22-2024 01:24 PM

    I have a NY trust with real estate income in several states.  One of them is Connecticut.  The real estate income is the only income sourced in Ct.  

    Form CT-1041 Part 1, Schedule A- Ct Fiduciary Adjustments Additions has an addback on line 1 for interest on state and local government obligations other than Connecticut.   This addback will be a substantial number for this trust.

    It doesn't make sense or seem right.  If this trust had no Ct source income, they would not be subject to this addback, because they would not be filing a return.

    Has anybody dealt with this before?

    Thank you.

    Elizabeth Brown, CPA



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    Elizabeth Brown
    CPA
    ELIZABETH BROWN, CPA
    Ossing NY
    914-345-1040
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