Because I no longer return back to live in the USA, in 2021, I took out all my IRAs and 401K (Roth and Traditional) and chose not to withheld state tax but withheld 10% Federal tax.
1. In Turbox tax, I saw I need to pay total 30.9% Federal tax. According to this article https://www.tax.ny.gov/pubs_and_bulls/tg_bulletins/pit/ny_source_income_nonresident.htm, I don’t think I have to pay NY state tax, correct?
2. I have 1099-OID, 1099-B from Lending Club, do I need to pay NY state tax?
3. I keep US mailing address for my US bank and foreign address for Federal tax and permanent home address. When I clicked the tab “Your State Returns”, Turbox tax shows:
Based on your federal return, we recommended the following New York residency status:
Nonresident (Form IT-203)
a.) I no longer live in the USA. Why do I need to fill out Nonresident (Form IT-203)?
b.) On New York Income Allocation, what should I fill on Federal Income New York Source Portion? Are 1099-OID and 1099-B NY income? I have gain and lost.
c.) Should I check the box “Check this box to use Form IT-203-F to allocate all or part of your capital gains using multiple years.”? What does it mean?
