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CGCPA
CGCPA, CPA
Category: Tax
Satisfied Customers: 3820
Experience:  over 40 years experience in tax matters
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I live in NJ but own an apartment in NYC that I rent out. If

Customer Question

I live in NJ but own an apartment in NYC that I rent out. If the property produced a loss after expenses do I need to file a NY or NYC tax return? I have no other income in NY aside from that.
Submitted: 8 months ago.
Category: Tax
Expert:  CGCPA replied 8 months ago.

You should be filing a NY State non-resident return whether or not the venture is profitable. On that return you will also be filing a NYC non-resident return. They use the one form for this. The reason behind the filing requirement is that NYS/NYC do not know if there is a profit or loss unless you file.