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For NY income tax returns... Are full-time residents

required to pay income taxes...
For NY income tax returns... Are full-time residents required to pay income taxes on k-1 investments earned in other states (e.g., TX)?
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Answered in 2 minutes by:
5/6/2017
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 17,847
Experience: 15years with H & R Block. Divisional leader, Instructor
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Hello, I'm Robin. Welcome to JustAnswer. I'm reviewing your question now and typing up my reply. I'll post that in just a few moments.

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Yes, New York residents are subject to tax on their worldwide income. If they are taxed in another state then NY allows for a credit but as this is from a TX K1 there is no state income tax to the individual so there would be no credit for NY because there is no TX individual income tax.

Please rate in a positive way (look for the STARS ) so I am credited with responding.

Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 17,847
Experience: 15years with H & R Block. Divisional leader, Instructor
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Customer reply replied 1 year ago
Thanks for the super speedy response, Robin!
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Category: Tax
Satisfied Customers: 17,847
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Experience: 15years with H & R Block. Divisional leader, Instructor

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