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February 26, 2021
Question

Partial resident of NY state

  • February 26, 2021
  • 1 reply
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I moved to florida in June but still work from home for a NY company. I am filing a partial resident form for NY. Do I need to fill out allocations? Am I able to get back any NY state taxes they took out? And which part is the year does my student loan interest break go towards?

 

thank you 

1 reply

AmyC
Employee
February 26, 2021

1. Allocate NY source income to NY.

2. If you overpaid, you will get a refund.

3. Student loan interest paid by employer would match with NY income time period. If paid by you, it matches your residency.

 

Answers to questions you didn't know you had:

 

I have noticed a lot of people living in different places but did not really move. So, did you actually pack up everything and move to FL with an intent to live there or are you just visiting until your job says to come back in NY?

 

If you actually moved to FL,  your move date would be when you established your residency in FL. You would have gotten a license, changed your car insurance, etc. So, if you packed up and moved it all out of NY one day, that can be your move date. That establishes which days are FL income and expenses vs NY income and deductions.

 

NY source income is taxable to NY. If the company also operates in FL, then you are fine. If it is solely based in NY, then you have NY source income to pay tax on the full amount to NY. If all NY income, no allocation necessary. However, the student loan deduction if paid by your employer, would qualify as it is associated with NY income.

 

Did they stop taking out NY tax when you moved? If they stopped, they would have a FL base as well.

 

 

Instructions for Form IT-203 Nonresident and Part-Year ... - NYC state:

If you are a New York State nonresident and you meet any of the following conditions, you must file a New York State personal income tax return using Form IT-203, Nonresident and Part-Year Resident Income Tax Return:

• You have income from a New York source and your New York AGI is more than your New York State standard deduction.

• You want to claim a refund of any New York State, New York City, or Yonkers income taxes withheld from your pay.

• You want to claim any of the New York State, New York City, or Yonkers refundable or carryover income tax credits.

• You are subject to the minimum income tax on tax preference items derived from or connected with New York sources (Form IT-220, Minimum Income Tax).

• You were a part-year resident and you are subject to a separate tax on any lump-sum distributions for your resident period derived from or connected with New York sources (Form IT-230, Separate Tax on Lump-Sum Distributions).

• You incurred a net operating loss (NOL) for New York State personal income tax purposes for the tax year, without incurring a similar NOL for federal income tax purposes.

 

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