Sale of Second Home

[jvmiller513]

I sold a house in 2025 in NY - not my principal residence.

I know I will owe a good deal of capital gains tax on my federal tax return.  I have been sending advanced payments so I won't be hit with an underpayment penalty.

Does NY have a similar underpayment penalty?  I am considered a part time (80 days/year) resident there

[Bsch4477 · Accepted solution]

Read the details here. 
https://www.tax.ny.gov/pdf/current_forms/it/it2105_9i.pdf