Instructions for Form IT-2663 Nonresident Real Property Estimated Income Tax Payment Form - New York

Form IT-2663 Nonresident Real Property Estimated Income Tax Payment Form for Use on Sale or Transfer of Real Property by a Nonresident of New York State - New York

This document contains official instructions for Form IT-2663 , Nonresident Income Tax Payment Form - a form released and collected by the New York State Department of Taxation and Finance. An up-to-date fillable Form IT-2663 is available for download through this link.

FAQ

Q: What is Form IT-2663?
A: Form IT-2663 is the Nonresident Real Property Estimated Income Tax Payment Form for New York.

Q: Who needs to file Form IT-2663?
A: Nonresidents of New York who own real property in the state and are receiving rental income from that property need to file Form IT-2663.

Q: What is the purpose of Form IT-2663?
A: The purpose of Form IT-2663 is to report and pay estimated income tax on rental income from real property in New York.

Q: When should Form IT-2663 be filed?
A: Form IT-2663 should be filed and the estimated tax payment should be made on a quarterly basis, with due dates of April 15, June 15, September 15, and January 15.

Q: What information is needed to complete Form IT-2663?
A: To complete Form IT-2663, you will need information about the property, the rental income received, and any expenses related to the property.

Q: Are there any penalties for not filing Form IT-2663?
A: Yes, there are penalties for failure to file Form IT-2663 or failure to make the required estimated tax payments.

Q: Is Form IT-2663 only for nonresidents?
A: Yes, Form IT-2663 is specifically for nonresidents of New York who own real property in the state.

Q: Can I get a refund if I overpay on my estimated tax payments?
A: Yes, if you overpay on your estimated tax payments, you may be eligible for a refund when you file your annual income tax return.