Fillable IT-2664 Nonresident Cooperative Unit Estimated Income Tax Payment (Federal Standard Abstract)

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IT-2664 Nonresident Cooperative Unit Estimated Income Tax Payment (Federal Standard Abstract)

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New York State Department of Taxation and Finance
Nonresident Cooperative Unit
Estimated Income Tax Payment Form
For use on sale or transfer of a cooperative unit by a nonresident of New York State
Tax Law–Article 22, Section 663
IT-2664
This form is valid for sales or transfers (date of conveyance) after December 31, 2013, but before January 1, 2015.
A The transferor/seller is: an individual an estate or trust
B Is the transferor/seller reporting the gain for federal income tax purposes under the installment method? Yes No
If Yes, what is the duration of the installment agreement? months years
C
Mark an X in the box if only a portion of the cooperative unit being sold or transferred qualies as the principal residence of the transferor(s)/seller(s) listed below.
Part 1 – Sale or transfer information
Transferor/seller name Transferor/seller identication number (SSN or EIN)
Spouse’s name or name of duciary (if applicable) Spouse’s SSN
Address of transferor/seller (number and street; see instructions) City State ZIP code
Mailing address of transferor/seller or duciary (if different) City State ZIP code
Location and description of cooperative unit transferred
(include address, unit number, and county)
Date of conveyance
Part 2 – Estimated tax information (Complete Worksheet for Part 2 on page 2 before completing this part.)
1 Sale price (from Worksheet for Part 2, line 15) ....................................................................................... 1.
2 Total gain
(from Worksheet for Part 2, line 17; if a loss, enter 0) ................................................................ 2.
3 Estimated tax due
(from Worksheet for Part 2, line 20) ......................................................................... 3. 00
Part 3 – Nonpayment of estimated tax by a nonresident upon the sale or transfer of a cooperative unit (see instructions)
4 This is to certify that the transferor/seller of this cooperative unit is a nonresident of New York State and is not required to pay
estimated tax under Tax Law section 663 due to one of the following reasons:
A The sale or transfer of this cooperative unit results in a loss (less than or equal to zero) for federal income tax
purposes
(you must complete Worksheet for Part 2 on page 2 of this form).
B The transferor/seller is not required to recognize any gain or loss with respect to the sale or transfer under provisions
of the Internal Revenue Code (IRC) (except for section 121)
(you must complete the summary below).
Brief summary of the transfer (include the section(s) of the IRC and facts supporting the claim that the recognition of the
gain or loss is not required with respect to the sale or transfer):
I, the undersigned, certify that this form, including any certication and attachment(s), is to the best of my knowledge and belief, true,
correct, and complete.
Signature of transferor/seller Date Signature of spouse (if applicable) Date
For ofce use only
Tax map designation
Section Block Lot
Part 4 – Signature
Mail your completed Form IT-2664 together with your Form TP-584, Combined Real Estate
Transfer Tax Return, Credit Line Mortgage Certicate, and Certication of Exemption from the
Payment of Estimated Personal Income Tax (see Form IT-2664-I, Instructions for Form IT-2664).
– – 2014
Page 2 of 3 IT-2664 (2014)
Worksheet for Part 2
5 Purchase price of stock shares ......................................................................................................... 5.
Increases to basis:
6 Improvements............................................................................... 6.
7 Closing costs ................................................................................ 7.
8 Other
(explain) 8.
9 Add lines 6, 7, and 8.......................................................................................................................... 9.
10 Add lines 5 and 9............................................................................................................................... 10.
Decreases to basis:
11 Depreciation
(if applicable) ............................................................. 11.
12 Other
(explain) 12.
13 Add lines 11 and 12 ........................................................................................................................... 13.
14 Adjusted basis of stock shares
(subtract line 13 from line 10) ............................................................... 14.
Gain or loss
15 Sale price less selling expenses (enter here and on the front page, Part 2, line 1) ................................... 15.
16 Cost or adjusted basis
(from line 14 above) ......................................................................................... 16.
17
Total gain or loss: Subtract line 16 from line 15. If the amount is a gain (greater than zero), enter here, on the
front page, Part 2, line 2, and continue with line 18. If the amount is a loss (less than or equal to zero), enter 0
here, on line 20 below, and on the front page, line 2. Complete Part 2, Part 3, and Form IT-2664-V on page 3.
17.
Estimated tax due
18
Enter the gain from line 17 (if only a portion of the gain from line 17 is subject to tax, see instructions below)
18.
19 New York State tax rate 8.82% (.0882) ............................................................................................. 19. .0882
20
Estimated tax due
(Multiply line 18 by line 19, and round to the nearest whole dollar; enter here and on the front page,
Part 2, line 3. Complete Form IT-2664-V, Nonresident Cooperative Unit Estimated Income Tax Payment Voucher, on page 3.)
20. 00
Specic instructions for Worksheet for Part 2
Note: See Form IT-2664-I, Instructions for Form IT-2664, for
complete instructions.
Lines 5 through 17 – Multiple transferors/sellers: Enter the total
purchase price, adjustments to basis, and sale price to determine
the total gain (or loss). See Line 18 below for allocation of the gain.
Line 5 – Your purchase price of stock shares in a cooperative
unit is usually the cost of stock in the cooperative housing
corporation, which may include your share of a mortgage on
the building owned by the cooperative housing corporation
on the date of the purchase of stock interest, if such portion is
properly allocable to your cooperative unit and must be paid as
a condition of retaining your stock interest in the cooperative
housing corporation. This amount must be computed in the
same manner as for federal income tax purposes.
Line 18 – Enter the gain (or portion of the gain) from line 17 that
will be reported on your federal income tax return for 2014.
• If only a portion of the cooperative unit qualies as your
principal residence, enter the gain allocated to the portion
of the cooperative unit that did not qualify as your principal
residence and will be reported on your federal income tax
return for 2014. Attach a statement to Form IT-2664 showing
how you computed the allocation.
• If two or more persons transfer or sell the cooperative
unit, allocate the total gain on the cooperative unit among
the transferors/sellers in the same manner as the gain is
allocated for federal income tax purposes. Attach a statement
to Form IT-2664 showing each transferor’s/seller’s name, SSN
or EIN, address, and share of the gain.
• If the gain is being reported as an installment sale, enter
the amount of gain that you (and your spouse, if applicable)
will be reporting on your 2014 federal income tax return.
• A nonresident estate or trust must enter the amount of the
gain, without regard to any distributions, from line 17.
Line 19 –
When computing tax due on the gain from the transfer
or sale of the cooperative unit, you must use the tax rate equal to
the highest rate of tax for the tax year as set forth in the Tax Law,
section 601. For tax year 2014 that rate is 8.82% (.0882).
Line 20 – This is the amount of your required estimated tax
payment. Enter this amount on the front page, Part 2, line 3, and
as your estimated tax payment on Form IT-2664-V on page 3.
You must complete Form IT-2664-V, even if there is no payment
of estimated personal income tax due.
Use this worksheet to compute your gain or loss on the sale or
transfer of the cooperative unit. The gain or loss is computed in
the same manner as for federal income tax purposes. For more
information, see federal Publication 523, Selling Your Home;
Computation of cost or other basis
Publication 544, Sales and Other Dispositions of Assets; and
Publication 551, Basis of Assets. These publications are available
on the Internal Revenue Service’s Web site at www.irs.gov.
0441140094
Note: You must complete Form IT-2664-V (below), even if there
is no payment of estimated personal income tax due.
Estimated income tax payment information
Print your name, SSN or EIN, and 2014 IT-2664-V on your
payment. You must remit the full payment of estimated income
tax as shown on Form IT-2664, line 3 without regard to any prior
credits or payments of estimated tax for the tax year. Make your
check or money order payable to NYS Income Tax. Do not
combine this payment with payment of any other tax or fee; it
must be a separate check or money order. Do not detach this
voucher from the rest of the form.
Mail your completed Form IT-2664 (with a check or money order
for the full payment of any estimated income tax due) and your
Form TP-584 (with a separate check or money order for the
real estate transfer tax shown as due on Form TP-584) to the
NYS Tax Department at the address below within 15 days of the
delivery of the instrument effecting the disposition.
NYS TAX DEPARTMENT
RETT RETURN PROCESSING
PO BOX 5045
ALBANY NY 12205-5045
IT-2664-V
Individual taxpayer’s full name or name of estate or trust
Spouse’s name (if applicable) or name and title of duciary Spouse’s SSN
Individual taxpayer’s street address or address of duciary or representative
(see instructions)
City, village, or post ofce State ZIP code
Identication number
(SSN or EIN of an estate or trust)
Enter date of conveyance and total payment in the boxes to the right. Print your name, social security number or
employer identication number, and 2014 IT-2664-V
on your payment. Make payable to NYS Income Tax.
Mark an X in one box:
Individual Estate/trust
New York State Department of Taxation and Finance
Nonresident Cooperative Unit Estimated Income Tax Payment Voucher
For use on sale or transfer of a cooperative unit by a nonresident
Private delivery services
If you choose, you may use a private delivery service, instead of
the U.S. Postal Service, to mail in your form and tax payment.
However, if, at a later date, you need to establish the date you
led or paid your tax, you cannot use the date recorded by a
private delivery service unless you used a delivery service that
has been designated by the U.S. Secretary of the Treasury
or the Commissioner of Taxation and Finance. (Currently
designated delivery services are listed in Publication 55,
Designated Private Delivery Services. See Need help? in
the instructions, Form IT-2664-I, for information on obtaining
forms and publications.) If you have used a designated private
delivery service and need to establish the date you led your
form, contact that private delivery service for instructions on
how to obtain written proof of the date your form was given to
the delivery service for delivery. If you use any private delivery
service, whether it is a designated service or not, send the forms
covered by these instructions to: NYS Tax Department, Deposit
Resolution Unit, W A Harriman Campus, Albany NY 12227.
Attach check or money order here.
You must attach a separate check or money order made payable to
NYS Income Tax for the full amount of estimated personal income
tax due as shown on Part 2, line 3, and Form IT-2664-V (below).
IT-2664 (2014) Page 3 of 3
Date scal year ends
Date of conveyance
Dollars Cents
Total payment
Do not detach
00
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IT-2664 Nonresident Cooperative Unit Estimated Income Tax Payment (Federal Standard Abstract)

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Completed 29 December 2021

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