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Returning Member
posted Apr 17, 2024 7:15:07 AM

State filing for unclaimed property 1099

I live in Virginia, but claimed money that had been handed over to the state of New York. So I received a 1099 from New York. I will include this in my federal form and Virginia form, but does this mean I also have to file a New York return just for that?

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1 Replies
Level 10
Apr 17, 2024 10:26:48 AM

You would need to clarify what the amount was you received and if you had previously recorded income related to the 1099. this is a public forum so impossible to know your amounts, if it is income or just a return of an asset you previously held? You need to know the reason for the 1099 amount to decide if it is reportable income and if it is sourced as NYS income.
According to Form IT-203-I, you must file a New York part-year or nonresident return if: You have any income from a New York source and your New York AGI exceeds your New York State standard deduction. You want to claim a refund for any New York State, New York City, or Yonkers taxes that were withheld from your pay.
2023 NY standard deductions
Standard deductions
Filing status Standard deduction amount
① Single (and can be claimed as a dependent on another taxpayer's federal return) $3,100
① Single (and cannot be claimed as a dependent on another taxpayer's federal return) $8,000
② Married filing joint return $16,050
③ Married filing separate return $8,000
④ Head of household (with qualifying person) $11,200
⑤ Qualifying surviving spouse $16,050

If you want to identify if the income is NY source
https://www.tax.ny.gov/pubs_and_bulls/tg_bulletins/pit/ny_source_income_nonresident.htm