Is New York Transfer tax paid deducted against New York income tax?
I am preparing a Fiduciary income tax return for a New York estate. New York property was sold and a New York Real Estate Transfer Tax Return (Form TP-584) was prepared and a transfer tax was paid with that return. Is that transfer tax a deduction on the New York income tax return? If it is a deduction, would it be entered on the return as an estimated tax?
