Received schedule K1 for New York State. Do I need to file New York State Tax?

[ssia_us]

Hi,

I am a california resident, I received a schedule K1 for New York State for property investment through a limited partnership LLC. 

Do I need to file New York State Tax? The Box 1 on the K1 is a Loss. Please advise.

[IsabellaG · Accepted solution]

No. NY Says:  

"If you are a New York State nonresident you must file Form IT-203, Nonresident and Part-Year Resident Income Tax Return, if you meet any of the following conditions:

• You are a nonresident with New York source income and your New York adjusted gross income Federal amount column (Form IT-203, line 31) exceeds your New York standard deduction. 
   
• You want to claim a refund of any New York State, New York City, or Yonkers income taxes withheld from your pay.
   
• You want to claim any of the refundable or carryover credits available. 
   
• You had a net operating loss for New York State personal income tax purposes for the tax year, without having a similar net operating loss for federal income tax purposes."

Unless the above that applies to you, you wouldn't need to file.

[ssia_us]

Thank you for answering my question. This is really helpful. Save me money not to buy the NY state Turbo tax.