What is 1127-a Form

What is 1127-a Form: What You Should Know

New York City Tax Ordinance, Form 1116 was changed to form 1127 (Rev. December 2020 ). This is the personal income tax return for all New York City employees living outside the 5 boroughs (hired on or after January 4, 1973) who have the option to take NYC-511-X for all income reported on Form 1116. However, the NYC-511-X income is not reported on Form 1127. Taxable income: Tax-exempt interest and dividend income; capital gains from the sale or exchange of the taxpayer's home or any interest therein; and income from rental real property, rental income from an office facility or a commercial property, and qualified interest income from stocks, bonds, and other securities. Non-taxable income in excess of the threshold amount is taxed as ordinary income (Form 1116) or as foreign income (Form 1116-F). How is Form 1116 different from Form 1127?  The IRS Form 1116 is used as the filing system for the non-resident taxpayer. The Form 1116-F is used to calculate the withholding obligations on that taxpayer's behalf. Form 1116-F must be filed with the City of New York's “Employee's Return for Non-U.S. Citizens (Form 1163-Z).” Non-Residents of New York City with a New York City-issued “Employee's Taxpayer ID” card can use their ID number to log into their account and file Form 1116-F. Please see IRS publication 934-B, “Reporting and Paying Tax to Local Governments,” for more information. Form 1116-F is used to determine the amount of city taxes withheld from each pay period, the City Worker Non-Resident Tax, and the City Worker's New York City employer's New York City tax liability.  If a non-resident taxpayer has his or her New York State taxpayer ID number (NYS-ID) or a tax Identification Number (TIN), as a non-resident that taxpayer may not use this taxpayer ID number to file Form 1116-F. If necessary, a non-resident tax identification number or a Tax Identification Number from the TIN holder must be used.

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