Question

Royalty Income from different state

Forum|Forum|4 years ago
February 26, 2022
1 reply
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I live in VA but earned $120 in royalties from an oil and gas investment in LA. I received a 1099-MISC. Do I have to file LA taxes too? (Or just VA and Federal)

P

PattiF

No, you would only file taxes for Virginia and include the royalty income on your state and federal returns. You do not need to file a return for Louisiana.

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J

jpd63xyz

Does this also apply to New York State? I am a resident of California and receive royalties from a University based in New York State. Do I have to file a New York State tax return? Does it depend on the amount of the royalty received?

PatriciaV

If you are a New York State nonresident you must file Form IT-203, Nonresident and Part-Year Resident Income Tax Return, if you meet any of the following conditions:

You are a nonresident with New York source income and your New York adjusted gross income Federal amount column (Form IT-203, line 31) exceeds your New York standard deduction.
For Tax Year 2023, the standard deduction is $8,000 if filing single, $16,050 married filing jointly.
You want to claim a refund of any New York State, New York City, or Yonkers income taxes withheld from your pay.
You want to claim any of the refundable or carryover credits available.
You had a net operating loss for New York State personal income tax purposes for the tax year, without having a similar net operating loss for federal income tax purposes.