If I am a full time resident of Illinois and I sell land in new York and obtain a long term cap gain how do I pay tax in ny and how do I adjust the tax in Illinois?

[Coleen3 · Accepted solution]

File a non-resident return in NY. The income will be taxable to your home state.   http://www.revenue.state.il.us/TaxForms/IncmCurrentYear/Individual/IL-1040-Instr.pdf

NY

You must file Form IT-203 if you:

• were not a resident of New York State and received income during the tax year from New York State sources, or 
• moved into or out of New York State during the tax year.

You are subject to New York State income tax on:

• income you received from New York sources while you were a nonresident
• all income you received while you were a New York State resident

https://www.tax.ny.gov/pit/ads/it203_information.htm

[Coleen3]

How else can I help you?

[user3648718]

I was disappointed to learn from the above .that land sold in NY will be taxed as LT Cap Gain in both Illinois and New York

[Coleen3]

You may be able to get a partial credit.