My husband and I own a house outside of New York City (in NY State) and are contemplating purchasing an apartment in Manhattan to make our commute easier. We would live in it 3-4 days/week and spend the rest of the time at our country house. We both work in Manhattan. Our primary residence is currently the upstate house, and we would not change this even if we were to purchase an apartment. Would we have to pay NYC taxes under this arrangement, and if so how much would we pay? Could this just be considered an investment property, or would we have to somehow declare the time that we spend in NYC for tax purposes? What other tax-related considerations should we keep in mind?

Thank you for your help.

Take a look at the IT-201 forms. It details what qualifies you as a NYC resident. From what I recall, you are living in NYC for enough time to be responsible for taxes.

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Originally Posted by ScottGem

Take a look at the IT-201 forms. It details what qualifies you as a NYC resident. From what I recall, you are living in NYC for enough time to be responsible for taxes.

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From what I could understand there was a comment about 184 days per year. I believe we would be right around there. If we only lived there 180 days (assuming my # is current) would that mean we wouldn't owe anything?

Thanks ScottGem for the quick response.

There is an allocation form that asks you how many work and weekend days you spend in the city.

I believe this indicates that the residency tax will thus be pro-rated.

What ATE said. I thought it was pro-rated but hadn't had a chance to check the form.

I am not 100% sure myself, and have not had time to check it out. I will eventually, though, as I have several clients in the NY/NJ area.

That's kind of what I was afraid of. The part-time thing sounds like if you live somewhere for 3 months and then move you would be considered part-time, but I couldn't find how they would divide it if you are here all the time.

Piece of advice: Get professional tax help!

It sounds like you can aford it, and a good tax pro will save much more than his/her fee in taxes.

If you want my help, contact me at [email protected]. I have several NYC-based clients.

Thanks again for all your advice

Glad to help!