Fill - Free fillable IT-2664 Nonresident Cooperative Unit Estimated Income Tax Payment (Federal Standard Abstract) PDF form

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, 2018, but before January 1, 2020.

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

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).

– – 2019

Page 2 of 3 IT-2664 (2019)

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.

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

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

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 2019.

• 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 2019. 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 2019 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 2019 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 website at www.irs.gov.

0441190094

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, the last four digits of your SSN or EIN, and

2019 IT-2664-V on your check or money order. 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 in U.S. funds 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 PROCESSING UNIT

90 COHOES AVE

GREEN ISLAND NY 12183-1515

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, the last four digits of

your social security number or employer identication number, and 2019 IT-2664-V

on your payment. Make

payable to NYS Income Tax.

Mark an X in one box:

Individual Estate/trust

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. See Publication 55 for where to

send the form(s) covered by these instructions.

Attach check or money order here.

You must attach a separate check or money order made payable

in U.S. funds 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 (2019) Page 3 of 3

Date scal year ends

Date of conveyance

Dollars Cents

Total payment

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