I'm a resident of CA. I received a k-1 connected to a NYS Estate 1041. The k-1 is reporting LT capital gain earned in NYS from the sale of real estate.
1) I think I need to file NY State non-resident tax return IT-203. Is that correct?
2) I've only ever filed CA returns. I read I should do the non-resident (NY) return first. I already started the CA return in Turbo Tax Desktop. Should I delete the CA return?
3) I assume it's easy to access the NYS non-resident tax return in TT? If not, any tips?
4) Once I've accessed the NY return, will TT transfer my federal data over?
5) After I've done NYS, do I then do CA? Assuming so, will TT transfer my federal data over?
6) Does TT handle avoiding getting double-taxed by the two states or do I have to do something to make sure I'm not double-taxed?
7) I've always efiled my CA return; will I be able to (or have to) e-file NYS as well?
😎 Regarding efiling costs, my version of TT gives me one free state tax return to file and then charges around $25 for each extra state return I efile. I assume that rate is consistent for all states?
9) Anything else I should know about in handling this? It should be a one-time deal.
Thanks for your help.
