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UBT PAID CREDIT 2020
-114.7 UNINCORPORATED BUSINESS TAXPAYERS
ATTACH TO FORM NYC-204
For CALENDAR YEAR 2020 or FISCAL YEAR beginning ______________________ 2020 and ending ___________________________
t Print or Type name as shown on Form NYC-204 t EMPLOYER IDENTIFICATION NUMBER

SCHEDULE A
1a. Add total of amounts from Schedule B, line 9, for all partnerships
with respect to which you are claiming a credit (see instructions) ......................... 1a.
1b. Enter amount from Schedule D, line 9..................................................................................1b.
*61112091*
1c. Total of lines 1a and 1b .............................................................................................................1c.
2. Enter amount from Form NYC-204, Schedule A, line 19 ............................................. 2.
3. UBT PAID CREDIT - Enter the lesser of line 1c and line 2 and transfer
amount to Form NYC-204,Schedule A, line 20 ................................................................. 3.
SCHEDULE B
A separate Schedule B must be completed for each partnership with respect to which you are claiming this credit.
Name of partnership from which you received a distributive EMPLOYER IDENTIFICATION NUMBER OF DISTRIBUTING PARTNERSHIP
share or guaranteed payment (distributing partnership):

1. Unincorporated business tax paid by distributing partnership (from its Form NYC-204, Schedule A, line 23) 1.
2. Credits taken by distributing partnership on its own return (from its Form NYC-204, Schedule A,
line 20 and lines 22a through 22e) (see instructions) ........................................................................................ 2.
3. Total of lines 1 and 2 ....................................................................................................................................................... 3.
4. Your distributive share percentage with respect to the distributing partnership (see instructions) ..........4.
5. Multiply line 3 by the percentage on line 4 .............................................................................................................. 5.
6. Tax from Form NYC-204, Schedule A, line 17, modified if necessary (see instructions)...................... 6.
7. Tax from pro forma Form NYC-204, Schedule A, line 17(see instructions) ................................................ 7.
8. Subtract line 7 from line 6 ................................................................................................................................................8.
9. Enter lesser of line 5 and line 8 here ................................................................................................. 9.
COMPLETE SCHEDULES C AND D IF YOU HAVE UBT PAID CREDITS FROM PRECEDING YEARS THAT YOU MAY CARRY FORWARD TO 2020
SCHEDULE C
1. 7th preceding year percentage .......1a. _____________________ current year percentage......1b. ______________________
2. 6th preceding year percentage .......2a. _____________________ current year percentage.....2b. ______________________
3. 5th preceding year percentage .......3a. _____________________ current year percentage.....3b. ______________________
4. 4th preceding year percentage .......4a. _____________________ current year percentage.....4b. ______________________
5. 3rd preceding year percentage.......5a. _____________________ current year percentage.....5b. ______________________
6. 2nd preceding year percentage ......6a. _____________________ current year percentage.....6b. ______________________
7. 1st preceding year percentage .......7a. _____________________ current year percentage.....7b. ______________________
SCHEDULE D (see instructions)
APPLICABLE YEAR COLUMN A COLUMN B COLUMN C COLUMN D COLUMN E
Credit Available in 2020 Credit Percentage Credit Carryforward to 2021
Column A Minus Column B
(if less than zero, enter “0”)
1. Current year NA NA
2. 7th preceding year
3. 6th preceding year
4. 5th preceding year
5. 4th preceding year
6. 3rd preceding year
7. 2nd preceding year
8. 1st preceding year
9. Total Column D, lines 2 through 8 (enter on Schedule A, line 1b)....................................................... 9.
61112091 NYC-114.7 2020

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NYC-114.7 - 2020 Page 2
INSTRUCTIONS without taking into account your distributive share of income,
A person or entity subject to the Unincorporated Business Tax gain, loss and deductions of, or guaranteed payments from, the
(UBT) that is a partner in a partnership subject to the UBT may distributing partnership with regard to which you are claiming a
claim a credit against its own UBT liability if the partner is required credit on this form. Enter on line 7 the amount from the pro
to include its distributive share of the income, gain, loss and de- forma Form NYC-204, Schedule A, line 17. Attach pro forma
ductions of, or guaranteed payments from, the partnership in its Form NYC-204.
own tax base. If your answer to ANY of the questions in the instructions for

line 6 is “yes”, fill out a modified pro forma Form NYC-204, tak-
SCHEDULE A
ing into account the modifications required at a, b, and c of the
LINE 1a - Enter amount from Schedule B, line 9. If you are
instructions for line 6 above and recalculating your modified
claiming credits with respect to more than one partnership, add
UBT liability without taking into account your distributive share
the amounts on line 9 on all attached Schedules B and enter the
of income, gain, loss and deductions of, or guaranteed payments
sum on this line.
from, the distributing partnership with regard to which you are
LINE 1b - Before completing Schedule A, line 1b, you must have claiming a credit on this form. Enter on line 7 the amount from
completed Schedule D, Column D. the modified pro forma Form NYC-204, Schedule A, line 17. At-
tach modified pro forma form NYC-204.

SCHEDULE B
SCHEDULE C
LINE 2 - If the distributing partnership has taken credits on its
own Form NYC-204, line 20 and lines 22a through 22e, enter the If the taxpayer is a partnership, complete this schedule with refer-
sum of such credits but only to the extent that they do not reduce ence to the partners in the taxpayer.
the distributing partnership’s unincorporated business tax below LINE 1a - Enter the total percentage interests in income and de-
zero. The amount entered on line 2 may not exceed the amount ductions for 2013 of partners who were also partners in the cur-
on line 19 of the distributing partnership’s Form NYC-204. rent year.
LINE 4 - Enter here the percentage of total distributive shares re- LINE 1b - If the percentage on line 1a is equal to or greater than
ported for you in column 4 of Schedule C of the distributing part- 80%, enter the total percentage interests in income and deductions
nership's Form NYC-204. Attach a copy of the distributing for the current year of those partners who were partners in both
partnership’s Form NYC-204, Schedule C. Attach taxpayer’s K-1 2012 and the current year. If the percentage on line 1a is less than
from the distributing partnership. 80%, enter 0% on line 1b.
LINE 6 - If your answer to all of the following questions is “no”, LINE 2a - Enter the total percentage interests in income and de-
enter on line 6, the amount from your Form NYC-204, Schedule ductions for 2014 of partners who were also partners in the cur-
A, line 17. rent year.
1. Did you claim an NOL deduction on line 11 of Schedule A of LINE 2b - If the percentage on line 2a is equal to or greater than
your Form NYC-204? 80%, enter the total percentage interests in income and deductions

2. Was the sum of your net distributive share of income, gain, loss, for the current year of those partners who were partners in both
and deductions of, and guaranteed payments from, any unincor- 2013 and the current year. If the percentage on line 2a is less than
porated business less than zero (a “net loss distributive share”)? 80%, enter 0% on line 2b.

LINE 3a -
3. Was your unincorporated business taxable income less than Enter the total percentage interests in income and de-
zero before taking into account any distributive share or guar- ductions for 2015 of partners who were also partners in the cur-
anteed payments from any partnerships, or NOL deduction rent year.
(hereafter referred to as “separate UBTI”)? LINE 3b - If the percentage on line 3a is equal to or greater than
If your answer to ANY of these questions is “yes”, you must fill 80%, enter the total percentage interests in income and deductions
out a modified Form NYC-204 on which you make the following for the current year of those partners who were partners in both
2014 and the current year. If the percentage on line 3a is less than
adjustments: 80%, enter 0% on line 3b.
a. Do not take into account any NOL carryforward or carryback;
LINE 4a - Enter the total percentage interests in income and de-
b. Treat all “net loss distributive shares” as zero (see question ductions for 2016 of partners who were also partners in the cur-
2); and rent year.

c. If your separate “UBTI” is less than zero, treat it as zero(see LINE 4b - If the percentage on line 4a is equal to or greater than
80%, enter the total percentage interests in income and deductions
question 3).
for the current year of those partners who were partners in both
Enter on line 6 the amount from the above described modified
2015 and the current year. If the percentage on line 4a is less than
Form NYC-204, Schedule A, line 17 (hereafter referred to as the
80%, enter 0% on line 4b.
“modified UBT liability”). Attach modified form NYC-204.
LINE 5a - Enter the total percentage interests in income and de-
LINE 7 - If your answer to ALL three questions in the instruc-
ductions for 2017 of partners who were also partners in the cur-
tions for line 6 is “no”, fill out a pro forma Form NYC-204 in
rent year.
which you calculate your Unincorporated Business Tax liability

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NYC-114.7 - 2020 Page 3
LINE 5b - If the percentage on line 5a is equal to or greater than COLUMN C, LINE 4 - Enter the percentage from Schedule C,
80%, enter the total percentage interests in income and deductions line 3b.
for the current year of those partners who were partners in both
2016 and the current year. If the percentage on line 5a is less than COLUMN D, LINE 4 - Multiply the lesser of Column A, line 4
and Column B, line 4, by the percentage from column C, line 4.
80%, enter 0% on line 5b.
LINE 6a - Enter the total percentage interests in income and de- COLUMN A, LINE 5 - Enter amount from last year’s Form
ductions for 2018 of partners who were also partners in the cur- NYC-114.7, Schedule D, Column E, line 6.

rent year. COLUMN B, LINE 5 - Enter the excess, if any, of the amount
LINE 6b – If the percentage on line 6a is equal to or greater than from Column B, line 4, over the amount from Column A, line 4.
80%, enter the total percentage interests in income and deductions If less than zero, enter “0”.
for the current year of those partners who were partners in both
2017 and the current year. If the percentage on line 6a is less than COLUMN C, LINE 5 - Enter the percentage from Schedule C,
line 4b.
80%, enter 0% on line 6b.
LINE 7a – Enter the total percentage interests in income and de- COLUMN D, LINE 5 - Multiply the lesser of Column A, line 5,
ductions for last year of partners who were also partners in the and Column B, line 5, by the percentage from Column C, line 5.

current year. COLUMN A, LINE 6 - Enter amount from last year’s Form
LINE 7b – If the percentage on line 7 is equal to or greater than NYC-114.7 Schedule D, Column E, line 7.
80%, enter the total percentage interests in income and deductions
for the current year of those partners who were partners in both last COLUMN B, LINE 6 - Enter the excess, if any, of the amount
year and the current year. If the percentage on line 7a is less than from Column B, line 5, over the amount from Column A, line 5.
80%, enter 0% on line 7b. If less than zero, enter “0”.

SCHEDULE D COLUMN C, LINE 6 - Enter the percentage from Schedule C,
COLUMN A, LINE 1 - Enter on Column A, line 1 the amount line 5b.

from Schedule A, line 1a. COLUMN D, LINE 6 - Multiply the lesser of Column A, line 6,

COLUMN B, LINE 1 - Enter on Column B, line 1 the amount and Column B, line 6, by the percentage from Column C, line 6.

from Schedule A, line 2. COLUMN A, LINE 7 - Enter the amount from last year’s NYC-

COLUMN A, LINE 2 - Enter amount from last year’s form 114.7 Schedule D, Column E, line 8.

NYC-114.7, Schedule D, Column E, Line 3. COLUMN B, LINE 7 - Enter the excess, if any, of the amount

COLUMN B, LINE 2 - Enter the excess if any, of the amount from Column B, line 6, over the amount from Column A, line 6.
from Column B, Line 1 over the amount from Column A, Line 1. If less than zero, enter “0”.

If less than zero, enter “0”. COLUMN C, LINE 7 - Enter the percentage from Schedule C,

COLUMN C, LINE 2 - Enter the percentage from Schedule C, line 6b.

Line 1b.
COLUMN D, LINE 7 - Multiply the lesser of Column A, line 7,
COLUMN D, LINE 2 - Multiply the lesser of Column A, line 2, and Column B, line 7, by the percentage from Column C, line 7.

and Column B, line 2, by the percentage from Column C, line 2.
COLUMN A, LINE 8 - Enter amount from last year’s Form
COLUMN A, LINE 3 - Enter amount from last year’s Form NYC-114.7, Schedule D, Column E, line 1.

NYC-114.7, Schedule D, Column E, line 4.
COLUMN B, LINE 8 - Enter the excess if any of the amount
COLUMN B, LINE 3 - Enter the excess, if any, of the amount from Column B, line 7, over the amount from Column A, line 7.
from Column B, line 2, over the amount from column A, line 2. If less than zero, enter “0”.

If less than zero, enter “0”.
COLUMN C, LINE 8 - Enter the percentage from Schedule C,
COLUMN C, LINE 3 - Enter the percentage from Schedule C, line 7b.

line 2b.
COLUMN D, LINE 8 - Multiply the lesser of Column A, line 8,
COLUMN D, LINE 3 - Multiply the lesser of Column A, line 3, and Column B, line 8, by the percentage from Column C, line 8.

and Column B, line 3, by the percentage from Column C, line 3.
COLUMN E - For each of lines 1, 3, 4, 5, 6, 7 and 8, enter the
COLUMN A LINE 4 - Enter amount from last year’s Form excess, if any, of the amount in Column A over the amount in
NYC-114.7, Schedule D, Column E, line 5. Column B. If less than zero, enter “0”. This is the amount avail-
able as a carryover to next year.
COLUMN B, LINE 4 - Enter the excess if any, of the amount
from Column B, Line 3, over the amount from Column A, line 3.
If less than zero, enter "0".

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