IT-2663: Nonresident Real Property Estimated Income Tax Payment Form - valid for sales or transfers (date of conveyance) after December 31, 2023, but before January 1, 2025 (2024)
New York · NY DTF · Used for tax years 2024
Form IT-2663 reports a nonresident seller’s sale or transfer of New York real property in 2024 and calculates the estimated income tax due. It includes a gain or loss worksheet, a payment voucher, and a section to certify specified reasons why no estimated tax payment is required
Who files this form
Form IT-2663 is for a New York State nonresident individual, estate, or trust selling or transferring real property.
The form includes a section for claiming that no estimated tax payment is required because the transfer results in no gain or because gain or loss does not have to be recognized under qualifying Internal Revenue Code provisions.
Do not use this form for the sale, transfer, or other disposition of shares in a cooperative housing corporation. Use Form IT-2664 instead.
When it's due
For tax year 2024, this version applies to sales or transfers with a date of conveyance after December 31, 2023, but before January 1, 2025.
Submit the completed form and full estimated tax payment, if any, to the county recording officer when the deed is presented for recording.
What you'll need
Have the following information ready:
- The seller’s name, address, and Social Security number or employer identification number, plus spouse or fiduciary details if applicable.
- The property’s location and description, including county and tax map number, and the date of conveyance.
- Purchase price, improvements, closing costs, other basis adjustments, depreciation if applicable, sale price, and selling expenses.
- Installment agreement duration, if the gain is being reported under the installment method.
Complete Form IT-2663-V, the payment voucher, even if no estimated tax is due.
Attach an allocation statement if only part of the property is in New York State, only part qualifies as your principal residence, or there are multiple sellers. For multiple sellers, the statement must show each seller’s name, SSN or EIN, address, and share of the gain.
If claiming that gain or loss need not be recognized, complete the summary in Part 3 with the relevant Internal Revenue Code sections and supporting facts.
How to file
- Complete the sale or transfer information in Part 1.
- Complete the worksheet on page 2 before filling in Part 2. For tax year 2024, multiply the taxable gain on line 18 by 10.90% and round the estimated tax to the nearest whole dollar.
- Complete Part 3 if claiming one of its reasons for not paying estimated tax.
- Sign and date the form. Include the spouse’s signature if applicable.
- Complete Form IT-2663-V on page 3, even if no payment is due. Do not detach it.
- Submit the form and full payment, if any, to the county recording officer when the deed is presented for recording. Do not mail Form IT-2663 to the Tax Department.
If payment is due, attach a separate check or money order in U.S. funds payable to NYS Income Tax. Write your name, the last four digits of your SSN or EIN, and 2024 IT-2663-V on the payment.
Common mistakes
- Mailing the form to the Tax Department instead of submitting it to the county recording officer.
- Using IT-2663 for cooperative housing corporation shares. Use IT-2664 instead.
- Completing Part 2 before completing its worksheet.
- Skipping Form IT-2663-V because no estimated tax is due. The voucher is still required.
- Detaching the payment voucher. The form says not to detach it.
- Omitting a required statement showing how gain was allocated.
Questions people ask
What if the sale results in no gain?
If the worksheet result is less than or equal to zero, enter 0 on worksheet lines 17 and 20 and on Part 2, line 2. Complete Part 2, Part 3, and Form IT-2663-V.
What if only part of the property qualifies as my principal residence?
Mark box C. On worksheet line 18, enter the gain allocated to the portion that did not qualify as your principal residence and will be reported on your 2024 federal income tax return. Attach a statement showing the allocation.
How do multiple sellers allocate the gain?
Use the total property amounts on worksheet lines 5 through 17. Allocate the gain among sellers in the same manner as for federal income tax purposes, and attach a statement showing each seller’s name, SSN or EIN, address, and share of the gain.
What gain do I enter for an installment sale?
On worksheet line 18, enter the gain that you and your spouse, if applicable, will report on your 2024 federal income tax return.