§ 615. New York itemized deduction of a resident individual. (a)\nGeneral. If federal taxable income of a resident individual is\ndetermined by itemizing deductions or claiming the federal standard\ndeduction from his or her federal adjusted gross income, he or she may\nelect to deduct his or her New York itemized deduction or claim his or\nher New York standard deduction. The New York itemized deduction of a\nresident individual means the total amount of his or her deductions from\nfederal adjusted gross income allowed, other than federal deductions for\npersonal exemptions, as provided in the laws of the United States for\nthe taxable year, as such deductions existed immediately prior to the\nenactment of Public Law 115-97 with the modifications specified in this\nsection, except as provided for under subsections (f) and (g) of this\nsection.\n (b) Husband and wife.\n (1) A husband and wife, both of whom are required to file returns\nunder this article, shall be allowed New York itemized deductions only\nif both elect to take New York itemized deductions.\n (2) The total of the New York itemized deductions of a husband and\nwife whose federal taxable income is determined on a joint return, but\nwhose New York taxable incomes are required to be determined separately,\nshall be divided between them as if their federal taxable incomes had\nbeen determined separately.\n (c) Modifications reducing federal itemized deductions. The total\namount of deductions from federal adjusted gross income shall be reduced\nby the amount of such federal deductions for:\n (1) state and local general sales taxes as defined in subsection (b)\nof section one hundred sixty-four of the internal revenue code, to the\nextent included in federal itemized deductions or income taxes imposed\nby this state or any other taxing jurisdiction, except city earnings\ntaxes on nonresidents that are imposed upon and paid by taxpayers for\ntaxable years beginning after December thirty-first, nineteen hundred\nseventy and before January first, two thousand, pursuant to the\nauthority of former section twenty-five-m of the general city law, to\nthe extent that the amount of such tax exceeds the tax computed as if\nthe rates were one-fourth of one percent of wages subject to tax and\nthree-eighths of one percent of net earnings from self-employment\nsubject to tax;\n (2) interest on indebtedness incurred or continued to purchase or\ncarry obligations or securities the interest on which is exempt from tax\nunder this article; and\n (3) ordinary and necessary expenses paid or incurred during the\ntaxable year for (i) the production or collection of income which is\nexempt from tax under this article, or (ii) the management, conservation\nor maintenance of property held for the production of such income, and\nthe amortizable bond premium for the taxable year on any bond the\ninterest on which is exempt from tax under this article, to the extent\nthat such expenses and premiums are deductible in determining federal\ntaxable income.\n (4) premiums paid for long-term care insurance to the extent that such\npremiums are deductible in determining federal taxable income.\n * (5) real property taxes imposed by this state or any other taxing\njurisdiction on renters pursuant to section nine hundred twenty-six-a of\nthe real property tax law.\n * NB (Effective pending ruling by Commissioner of Internal Revenue)\n (6) in the case of a shareholder of an S corporation\n (A) where the election provided for in subsection (a) of section six\nhundred sixty has not been made, S corporation items of deduction\nincluded in federal itemized deductions, and\n (B) in the case of a New York S termination year, the portion of such\nitems assigned to the period beginning on the day the election ceases to\nbe effective, as determined under subsection (s) of section six hundred\ntwelve.\n (8) The amount of any federal deduction for taxes imposed under\narticle twenty-three of this ch
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