Form NYC-399 "Schedule of New York City Depreciation Adjustments" - New York City

What Is Form NYC-399?

This is a legal form that was released by the New York City Department of Finance - a government authority operating within New York City. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • Released on January 1, 2020;
  • The latest edition provided by the New York City Department of Finance;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a printable version of Form NYC-399 by clicking the link below or browse more documents and templates provided by the New York City Department of Finance.

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Download Form NYC-399 "Schedule of New York City Depreciation Adjustments" - New York City

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-399
SCHEDULE OF NEW YORK CITY DEPRECIATION ADJUSTMENTS
D O N O T U S E T H I S F O R M T O R E P O R T A D J U S T M E N T S R E L AT I N G T O B O N U S
DEPRECIATION ALLOWED BY IRC SECTION 168(k) OR THE SPECIAL DEPRECIATION
ADJUSTMENTS FOR CERTAIN SPORT UTILITY VEHICLES. USE FORM NYC-399Z.
For CALENDAR YEAR _________ or FISCAL YEAR beginning __________________________ and ending _________________________
Name (Print or Type)
EMPLOYER IDENTIFICATION NUMBER
OR
Federal Form 4562 must accompany this form.
s
SOCIAL SECURITY NUMBER
This schedule must be attached to your applicable New York City tax return.
s
See instructions.
Computation of allowable New York City depreciation for current year
SCHEDULE A
Attach rider if necessary
E
G
H
I
B
C
D
A
F
Method of
Life
Description
Date Placed
Cost
Class of
Accumulated NYC
Allowable
Federal ACRS
Figuring NYC
or
of
Property
in Service:
or
Depreciation Taken
New York City
Deduction
mm-dd-yy
Other Basis
 Depreciation
Rate
Property
(ACRS)
in Prior Years
Depreciation
1. Total columns D, E, F, and I .........
Enter total of columns F and I on line 4 and line 5 of Schedule C below. (See instructions on back.)
Disposition adjustment for property acquired on or after January 1, 1981
SCHEDULE B
Attach rider if necessary
For each item of property listed below, determine the difference between federal ACRS and New York City depreciation used in the computation of
federal and New York City taxable income in prior years.
u If ACRS deduction exceeds New York City depreciation, subtract column E from column D and enter in column F.
u If New York City depreciation exceeds ACRS, subtract column D from column E and enter in column G.
D
E
F
A
G
B
C
Description
Date Placed
Class of
Total ACRS
Total NYC
Adjustment
Adjustment
Property
in Service:
of Property
Deduction Taken
Depreciation Taken
(D minus E)
(E minus D)
mm-dd-yy
(ACRS)
2. Total excess ACRS deductions over NYC depreciation deductions (see instructions) ..
3. Total excess NYC depreciation deductions over ACRS deductions (see instructions) .....................................
Computation of adjustments to New York City income
SCHEDULE C
A.
B.
Federal
New York City
4. Enter amount from Schedule A, line 1, column F .......................
5. Enter amount from Schedule A, line 1, column I.........................
6. Enter amount from Schedule B, line 2 ........................................
7. Enter amount from Schedule B, line 3 ........................................
8. Totals: column A, lines 4 and 7; column B, lines 5 and 6...........
Enter the amount on line 8, column A, the federal adjustment, as an addition and the amount on line 8, column B, the New York City
adjustment, as a deduction on the applicable New York City return.
00512091
NYC-399 - 2020
-399
SCHEDULE OF NEW YORK CITY DEPRECIATION ADJUSTMENTS
D O N O T U S E T H I S F O R M T O R E P O R T A D J U S T M E N T S R E L AT I N G T O B O N U S
DEPRECIATION ALLOWED BY IRC SECTION 168(k) OR THE SPECIAL DEPRECIATION
ADJUSTMENTS FOR CERTAIN SPORT UTILITY VEHICLES. USE FORM NYC-399Z.
For CALENDAR YEAR _________ or FISCAL YEAR beginning __________________________ and ending _________________________
Name (Print or Type)
EMPLOYER IDENTIFICATION NUMBER
OR
Federal Form 4562 must accompany this form.
s
SOCIAL SECURITY NUMBER
This schedule must be attached to your applicable New York City tax return.
s
See instructions.
Computation of allowable New York City depreciation for current year
SCHEDULE A
Attach rider if necessary
E
G
H
I
B
C
D
A
F
Method of
Life
Description
Date Placed
Cost
Class of
Accumulated NYC
Allowable
Federal ACRS
Figuring NYC
or
of
Property
in Service:
or
Depreciation Taken
New York City
Deduction
mm-dd-yy
Other Basis
 Depreciation
Rate
Property
(ACRS)
in Prior Years
Depreciation
1. Total columns D, E, F, and I .........
Enter total of columns F and I on line 4 and line 5 of Schedule C below. (See instructions on back.)
Disposition adjustment for property acquired on or after January 1, 1981
SCHEDULE B
Attach rider if necessary
For each item of property listed below, determine the difference between federal ACRS and New York City depreciation used in the computation of
federal and New York City taxable income in prior years.
u If ACRS deduction exceeds New York City depreciation, subtract column E from column D and enter in column F.
u If New York City depreciation exceeds ACRS, subtract column D from column E and enter in column G.
D
E
F
A
G
B
C
Description
Date Placed
Class of
Total ACRS
Total NYC
Adjustment
Adjustment
Property
in Service:
of Property
Deduction Taken
Depreciation Taken
(D minus E)
(E minus D)
mm-dd-yy
(ACRS)
2. Total excess ACRS deductions over NYC depreciation deductions (see instructions) ..
3. Total excess NYC depreciation deductions over ACRS deductions (see instructions) .....................................
Computation of adjustments to New York City income
SCHEDULE C
A.
B.
Federal
New York City
4. Enter amount from Schedule A, line 1, column F .......................
5. Enter amount from Schedule A, line 1, column I.........................
6. Enter amount from Schedule B, line 2 ........................................
7. Enter amount from Schedule B, line 3 ........................................
8. Totals: column A, lines 4 and 7; column B, lines 5 and 6...........
Enter the amount on line 8, column A, the federal adjustment, as an addition and the amount on line 8, column B, the New York City
adjustment, as a deduction on the applicable New York City return.
00512091
NYC-399 - 2020
Form NYC-399 - 2020
Page 2
ness, or two or more such businesses, which is
Column G
G
I
E N E R A L
N F O R M AT I O N
placed in service in taxable years beginning be-
Indicate the depreciation method selected for the com-
fore January 1, 1989, or after December 31, 1993.
putation of the New York City allowable depreciation
DO NOT USE THIS FORM TO REPORT AD-
deduction. Any method used to compute depreciation
JUSTMENTS RELATING TO BONUS DEPRECI-
WHO MUST USE THIS FORM
that would have been allowed under IRC Section 167
ATION
ALLOWED
UNDER
FEDERAL
will be acceptable. This includes such methods as
A corporation or unincorporated business must use Form
LEGISLATION ENACTED IN 2002 AND LATER.
straight line depreciation, declining balance deprecia-
NYC-399 if it claims an ACRS or MACRS deduction
DO NOT USE THIS FORM FOR THE SPECIAL
tion, sum-of-the-years-digits method or any other con-
for property for federal purposes that does not fall within
DEPRECIATION ADJUSTMENTS FOR CERTAIN
sistent method.
the exceptions above, and it files or is included in one of
SPORT UTILITY VEHICLES. USE FORM NYC-
the following New York City tax reports:
Column I
399Z.
l
Enter depreciation computed by the method indicated in
NYC-3A, NYC-3L or NYC-4S
For taxable years beginning on or after January 1, 1982,
General Business Corporations
column G. Total of this column will be the depreciation
and before January 1, 1994, the federal depreciation de-
allowable as a deduction for New York City. Enter the
l
NYC-202, NYC-202EIN or NYC-204
duction permitted under Internal Revenue Code Sec-
total amount on the appropriate line of your New York
Unincorporated Businesses
tion 168 (the Accelerated Cost Recovery System -
City tax return.
l
NYC-1
ACRS or Modified Accelerated Cost Recovery System
LINE 1
Banking Corporations
- MACRS) was not permitted to be used in determining
Enter total of columns F and I on lines 4 and 5 of
taxable income for General Corporation Tax, Banking
l
NYC-2, NYC-2S or NYC-2A
Schedule C. If you have disposed of “recovery prop-
Corporation Tax and Unincorporated Business Tax pur-
Business Corporations
erty” you must complete Schedule B.
poses. (See exceptions below.) In place of the federal
ACRS or MACRS depreciation deduction, a deprecia-
SCHEDULE B
S
I
tion deduction computed by any other method permit-
P E C I F I C
N S T R U C T I O N S
Column A
ted under IRC Section 167 (as such section would have
Enter each item of property separately. Attach a rider if
applied to property placed in service on December 31,
SCHEDULE A
additional room is needed.
1980) was allowed. For property placed in service out-
The purpose of this schedule is to compute the allow-
side New York State for tax years beginning after De-
Column D
able New York City depreciation deduction. This form
cember 31, 1984 but before January 1, 1994, The New
Enter for each item the total amount of ACRS or
has been designed to be used with the federal depreci-
York State Supreme Court, Appellate Division, in R.J.
MACRS deductions used in the computation of the
ation schedule, Form 4562. A copy of the federal form
Reynolds Tobacco Co. v City of New York Department
prior year’s federal taxable income.
must accompany this Form NYC-399.
of Finance, 237 A.D. 2d 6, 667 N.Y.S.2d 4 (1st Dept.
Column E
1997), held that the New York City provision disallow-
Only property placed in service in taxable years be-
Enter for each item the total amount of New York City
ing the use of ACRS or MACRS was unconstitutional.
ginning after December 31, 1980, but before January
depreciation deductions used in the computation of
Accordingly, taxpayers will now be allowed to claim
1, 1985, and property placed in service outside New
prior years’ entire net income. For 1981 recovery prop-
the same depreciation as was claimed on the federal tax
York State in taxable years beginning after Decem-
erty, the New York City depreciation deduction was the
return for property placed in service outside New York
ber 31, 1984, and before January 1, 1994 for which
same as the ACRS or MACRS deduction and must be
State in those tax years as provided in Finance Memo-
the taxpayer DOES NOT intend to use ACRS or
included in this column.
randum 99-4 “Depreciation for Property Placed in Serv-
MACRS depreciation (see the second bulleted excep-
ice Outside New York After 1984 and before 1994”.
Column F
tion above), (except for Section 280-F property and
If the total ACRS or MACRS deduction exceeds total
property of a taxpayer subject to the General Cor-
Exceptions
New York City depreciation, subtract column E from
poration Tax or Business Corporation Tax principally
A depreciation deduction computed under ACRS or
column D and enter the excess in this column.
engaged in the conduct of an aviation, steamboat,
MACRS may be used for:
ferry or navigation business, or two or more such
Column G
l
property placed in service in New York State in
businesses, which is placed in service before taxable
If the total New York City depreciation exceeds ACRS
taxable years beginning on or after January 1,
years beginning in 1989 or after 1993) should be en-
or MACRS deductions, subtract column D from col-
1985;
tered in this schedule.
umn E and enter the excess in this column.
l
property placed in service outside New York State
Column A
LINE 2
in taxable years beginning after 1984 and before
Enter a brief description of each item of property de-
Total column F and enter amount on line 6,
1994 for which the taxpayer intends to use ACRS or
scribed above included in part III, federal Form 4562.
Schedule C.
MACRS depreciation as provided in Finance Mem-
Column B
LINE 3
orandum 99-4 “Depreciation for Property Placed in
For each item of property listed in column A, indicate
Total column G and enter amount on line 7, Schedule C.
Service Outside New York State After 1984 and Be-
the “class of property” used in computation of the fed-
fore 1994”.
eral ACRS or MACRS deduction. Use “UPM” for
SCHEDULE C
l
property placed in service outside of New York
property placed in service after December 31, 1980,
LINE 8
State in taxable years beginning on or after Janu-
which is depreciated under the unit of production
Enter the amount on line 8A, the federal adjustment, as
ary 1, 1994;
method provided in IRC Section 168(f)(1).
an addition and the amount on line 8B, the New York
l
recovery property subject to the provisions of IRC
City adjustment, as a deduction on the applicable New
Column D
Section 280-F (such as luxury automobiles) for
York City tax return.
The cost or other basis entered in this column must be
taxable years ending after June 18, 1984;
the same amount used for federal purposes. Property
l
property of a taxpayer subject to the General Cor-
placed in service in 1981 must be shown at the original
poration Tax principally engaged in the conduct
cost and should not be reduced by any depreciation
of an aviation, steamboat, ferry or navigation busi-
claimed in 1981.
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