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NYS Fiduciary income taxes IT 205

  • 1.  NYS Fiduciary income taxes IT 205

    Bronze Most Valuable Member
    Posted 09-27-2019 12:22
    I have a NYS resident estate. The executor and beneficiary were NYS residents at the time of death. They are now Florida residents for the entire 2018 year. During 2018 the estate received a distribution from a pension plan. The estate distributed the money to the beneficiary who is a Florida resident.
    My questions are:
    Is the trust still a NY trust since the executor is now a Florida resident.
    Since the beneficiary  is a Florida resident she does not pay tax state tax on the distribution.
    Is she liable for NY non resident taxes on the distribution?  If not does the trust have to pay tax to NYS

    Any help would be greatly appreciated.

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    Joseph Bonventre
    CPA
    JOSEPH S. BONVENTRE, CPA
    MANHASSET NY
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