Form CT-399 Depreciation Adjustment Schedule - Tax NY 2026

1. Click ‘Get Form’ to open it in the editor.
2. Begin with Part 1, where you will list depreciable property. Fill in the legal name of your corporation and employer identification number at the top.
3. In Section A, provide a description of each item of property. For each item, complete columns B through I, including details like date placed in service and cost basis.
4. Proceed to Section B for properties qualified under IRC section 168(k)(2). Again, describe each item and fill out the required columns as instructed.
5. If applicable, move to Part 2 for disposition adjustments. Here, calculate differences between federal and New York State depreciation deductions for disposed properties.
6. Finally, summarize your adjustments in Part 3 by entering amounts from previous sections into the appropriate lines.

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