Hi I'm a student new to the tax world. What is the difference between a New York state tax return "it-150" and a New York state tax return "it-201"? If anyone can help me by answering this question I would appreciate it. Thank you.

P.S.~ what do you need to be eligible for both of these?

The 150 is a short form and the 201 is a long form. If you are claiming certain credits, have certain income levels, are subject the New York minimum tax then you would have to file form IT-201 though there are more specifics.

I lived in New York for just over 3 months and moved to Alabama for the remainder of the year. Since the employers took taxes out from both states, I assume I have to file two state tax returns, but do I just take a fraction of the standard deduction that I would be entitled to?

Ross Indelicato

Hello rpmind. You file part-year tax returns with each state. You end up paying tax to each state only on the income you earned while living in that state. And yes, deductions are pro-rated - just follow the directions for the part-year resident returns. If you are using TurboTax or some other software package it should walk you through the process.