I am selling a house with a capital gains in NYC. I understand that I will owe capital gains tax even as a non-resident. I read online that NY conforms to federal tax where you can also defer the capital gains by investing in an opportunity zone fund, but did not find any mention of it when looking at the NY tax forms and don't see where i would report it. Can someone confirm before i start deferring capital gains by investing in an opportunity zone fund? I also assume the opportunity zone fund do not have to be investing in New York state.
My other question is, since i am non-resident of NY(I am resident of Florida), after i defer the capital gains, do i have to report to NY once i sell the opportunity zone fund? For example, if i defers capital gains from a house sale in 2020 in NY state by investing into an opportunity zone fund. In 2025, i sell the opportunity zone fund, do i have to report and NY state tax, even though I have always been a non-resident? Or is gains essentially tax free now for NY state?
