What New York Form IT-272 (2013) Is For
New York Form IT-272 (2013) lets you report qualified undergraduate college tuition paid during the 2013 tax year on your New York State income tax return. You use the form to choose either a refundable credit or an itemized deduction, depending on which option reduces your New York tax liability.
The credit lowers tax owed and may generate a refund, while the deduction reduces taxable income reported on your return under New York filing rules. The benefit applies only to tuition paid for undergraduate enrollment at eligible institutions in 2013, clarifying that tuition fees are tax-deductible for state purposes.
When You’d Use New York Form IT-272 (2013)
New York Form IT-272 is filed with your original 2013 New York State income tax return when you paid qualified undergraduate tuition during that year. You must also use the form if you prepaid tuition in 2013 for an academic term that began in 2014 under New York tax rules.
You use the form again when amending a 2013 return to claim tuition benefits you did not include on the original filing. An amended filing requires Form IT-201-X and a revised attachment reflecting corrected 2013 tuition expenses.
Key Rules or Details for 2013
You may claim the refundable credit only if you were a full-year New York resident for 2013, while nonresidents may instead claim the deduction. To qualify, the student must have been enrolled in an undergraduate program at an accredited college or university during the 2013 tax year.
Only tuition payments qualify under state law, which explains that tuition fees are tax-deductible for 2013 purposes, while all other optional charges remain excluded. You cannot include housing, fees, books, or supplies, because the education tax rules for New York in 2013 limit eligibility to tuition costs.
Step-by-Step (High Level)
- Step 1: Gather 2013 tuition payment records and Form 1098-T from each school you attended, and note any scholarships, grants, or reimbursements that reduce qualified totals.
- Step 2: Complete each student and school entry in part one with the Social Security number, school name, and EIN, then confirm undergraduate enrollment for every student listed. Review each entry for accuracy before totaling the amounts.
- Step 3: Calculate qualified tuition for each student, cap expenses at $10,000, and follow the worksheets to compute both the credit and the deduction amounts for 2013.
- Step 4: Compare the results and select the option that results in lower New York tax liability. Report it on your return and attach the completed form to the 2013 filing.
Common Mistakes and How to Avoid Them
Missing required information causes filing errors that delay review. Identifying these mistakes helps you submit accurate forms.
- Graduate coursework reported: This error occurs when graduate tuition is incorrectly entered as a qualified expense. You must report only undergraduate tuition paid during the tax year.
- Non-tuition charges included: This error occurs when fees or books are listed as part of the tuition. You must consist of only base tuition charges shown on billing records.
- Scholarships not subtracted: This error occurs when scholarships are not deducted from the tuition total. You must reduce qualified expenses by the total amount of aid received.
- Employer reimbursements claimed: This mistake occurs when reimbursed tuition is included in calculations. You must exclude reimbursed amounts because they are not eligible for student credit taxes under New York law.
- Required form missing: This error occurs when the completed tuition form is not attached to the submission. You must attach the form to the return before filing.
What Happens After You File
After filing, the Department of Taxation and Finance reviews New York Form IT-272 alongside your complete 2013 New York State income tax return for accuracy. If the refundable credit exceeds your calculated tax liability, the department issues the excess amount as a refund without requiring additional action from you.
During review, you may receive a written request for records supporting claiming education expenses on taxes reported on your return. Providing complete documentation by the stated deadline allows examiners to verify figures quickly and finalize your 2013 tax determination without unnecessary correspondence from staff members.
Frequently Asked Questions
Can I claim this benefit if I used a federal education credit?
Yes, you may claim the New York tuition benefit even if you claimed a federal education credit. The programs operate separately, and state rules allow both benefits for the same tuition payments.
Can I mix credits and deductions for different students?
No, you must choose either the credit or the deduction and apply it to all eligible students. The form does not permit splitting benefit types across different students.
Do payments from a 529 plan qualify?
Yes, tuition paid using a qualified 529 plan remains eligible under New York rules. These payments still count when calculating allowable student credit taxes for the tax year.
Does prepaid tuition count for 2013?
Yes, tuition paid during 2013 qualifies even if classes start in 2014. New York treats expenses as paid in the year in which the payment is made.
Can nonresidents claim the credit?
No, nonresidents are not eligible to claim the refundable credit. You may claim only the itemized deduction if you do not meet full-year residency requirements.
