Yes. If you have a rental property located in NY, then this rental income will be considered NY sourced income so you will need to file an NY nonresident state income tax return.
Some additional
information about NY state income taxes:
NY taxes all the
income reported when calculating NY state income taxes (whether resident,
part-year resident or nonresident) but you will only be required to paid a
portion of the total NY state income taxes calculated (your percentage of the
total NY tax that relates to your NY source income only)
The way that the NY
state income tax return works is that NY looks at all of your income from all
sources and generates a total NY state income tax on all income. When NY
is determining the actual NY state income taxes that you owe, NY multiples
the total NY taxes on all income by the percentage of NY source income over all
source income. So if all your income is $10,000 but NY source income is $8,000,
NY will calculate the NY state income tax on $10,000 then multiply this
total tax by your NY source income over total income ($8,000/$10,000) to get
your percentage of NY state income taxes on your NY source income. So in this
instance, your NY state income tax liability would be 80% of the total amount
of NY taxes generated (on all income). That is why all your income is
being reported on your NY state tax return.
You can preview your
NY Tax summary to see what portion of the total taxes for NY you are actually
paying
To preview NY Tax
Summary:
- TurboTax Online sign-in,
click Here
- Under Tax Timeline, click on
Continue your return
- Go to "My Account"
> "Tools"
- Under the Tools Center,
select "view tax summary"
- Select "NY Tax
Summary"
