Form It-205-T - Allocation Of Estimated Tax Payments To Beneficiaries - 2014 Page 2
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1
2Instructions
IT-205-T (2014) (back)
Purpose of form
Additional sheets – If you are allocating a payment of estimated
taxes to more than 16 beneficiaries, list the additional beneficiaries
A trust or a decedent’s estate (for its final tax year) may elect under
on an additional Form IT-205-T or a separate sheet. Follow the
Tax Law section 685(c)(6)(D) or (F), as applicable, to have any part
format shown on the front of this form if you use a separate sheet
of its estimated tax payments treated as made by a beneficiary or
(be sure to include your name and taxpayer identification number).
beneficiaries. The fiduciary must file Form IT-205-T to make the
If you use another Form IT-205-T, fill in the page box at the top right
election. Once made, the election is irrevocable.
for each form used.
How to file
Line 2 – Enter on line 2 the column C total, including the total from
any separate sheet(s). If you use more than one sheet, include this
Submit Form IT-205-T with Form IT-205, Fiduciary Income Tax
total on the last page. This combined total must equal the amount
Return, only if you are making the election with Form IT-205.
Otherwise, file Form IT-205-T separately.
entered on line 1.
Privacy notification
When to file
The Commissioner of Taxation and Finance may collect and
Trusts must file Form IT-205-T on or before the 65th day after the
maintain personal information pursuant to the New York State Tax
close of the tax year for the section 685(c)(6)(D) election to be valid.
Law, including but not limited to, sections 5-a, 171, 171-a, 287,
Estates must file Form IT-205-T on or before the 65th day after the
308, 429, 475, 505, 697, 1096, 1142, and 1415 of that Law; and
close of the tax year in which the estate is terminated.
may require disclosure of social security numbers pursuant to
42 USC 405(c)(2)(C)(i).
When the due date falls on a Saturday, Sunday, or legal holiday, you
may file on the next business day.
This information will be used to determine and administer tax
liabilities and, when authorized by law, for certain tax offset and
exchange of tax information programs as well as for any other lawful
Where to file
purpose.
Mail all returns to:
Information concerning quarterly wages paid to employees is
STATE PROCESSING CENTER
PO BOX 61000
provided to certain state agencies for purposes of fraud prevention,
support enforcement, evaluation of the effectiveness of certain
ALBANY NY 12261-0001
employment and training programs and other purposes authorized
by law.
Private delivery services – See Publication 55, Designated Private
Delivery Services.
Failure to provide the required information may subject you to civil or
criminal penalties, or both, under the Tax Law.
Line instructions
This information is maintained by the Manager of Document
Line 1 – Enter the total amount of estimated tax payments made by
the trust or decedent’s estate that the fiduciary elects to treat as a
Management, NYS Tax Department, W A Harriman Campus,
Albany NY 12227; telephone (518) 457-5181.
payment made by the beneficiaries. This amount is treated as if paid
or credited to the beneficiaries on the last day of the tax year of the
trust or decedent’s estate.
Need help?
Visit our Web site at
Allocation to beneficiaries
• get information and manage your taxes online
Column A – Name and address of beneficiary
• check for new online services and features
Group the beneficiaries to whom you are allocating estimated
tax payments into two categories. First, list all of the individual
Telephone assistance
beneficiaries - those who have social security numbers. Second, list
Automated income tax refund status:
(518) 457-5149
all of the other beneficiaries - those who have employer identification
numbers.
Personal Income Tax Information Center: (518) 457-5181
To order forms and publications:
(518) 457-5431
Column B – Beneficiary’s identifying number(s)
Text Telephone (TTY) Hotline (for persons with
Enter each beneficiary’s social security number or employer
hearing and speech disabilities using a TTY): (518) 485-5082
identification number. For those beneficiaries who may file a joint
return, you can help the New York State Tax Department credit the
proper account by providing the social security number, if known, of
the beneficiary’s spouse. However, this is an optional entry.
Column C – Amount of estimated tax payment allocated to
beneficiary
For each beneficiary, enter the amount of estimated income tax
payment credited to that beneficiary.
Column D – Proration percentage
For each listed beneficiary, divide the amount shown in column C by
the amount shown on line 1. Round the result to the fourth decimal
place, and enter the result as a percentage.
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