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Am I allowed to use two methods for allocating unearned income on my part-year resident New York return?
As a part year resident of New York, can I use two different methods for allocating unearned income for different types of income?
1) For Interest and Dividend Income, I want to use time spent in New York. e.g. I have $12,000 in Interest and Dividend Income and I moved to NY on Feb 1,2019 so my NY income would be $11,000 (11 months)
2) For Capital Gains/Losses and Rents/Royalties/K-1s, I want to use "income earned while I was a resident" method. e.g. I have $3,000 in capital losses and $10,000 in K-1 allowed losses and all of these occurred after I became a NY resident. Can I take the full loss amounts of $3,000 and $10,000 on my NY return?
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‎June 13, 2020
5:59 PM