Form IT-2664: Nonresident Cooperative Unit Estimated Income Tax Payment Form (2026)

Q: How much income can be excluded on IT-221?

You may exclude up to <b>$5,000 ($10,000 for joint filers)</b> of qualifying disability income, reduced by any NY pension or annuity exclusion previously claimed.

Q: Are HSA contributions deductible for New York tax?

No—unlike the federal system, New York does <b>not</b> allow an HSA deduction.

Last reviewed: 2025-10-29

Use the New York Tax Form Calculator Form IT-2664 — Nonresident Cooperative Unit Estimated Income Tax Payment Form as a stand alone tax form calculator to quickly calculate specific amounts for your 2026 New York state tax return. Alternatively, you can use one of our Combined Federal and State Tax Estimators to quickly calculate your salary, tax, and take-home pay.

Form IT-2664 must be filed by a nonresident individual, estate or trust that sells or transfers a cooperative unit located in New York State. The form computes the estimated New York State personal income tax on any gain recognized for federal income tax purposes. The form is filed along with the deed (and the real-estate transfer tax return TP‑584) and payment submitted to the recording officer at time of conveyance.

The requirement originates in Tax Law § 663 and ensures New York collects state tax on gains by nonresidents from real-estate-type property located in the state, including cooperative units. Failure to file IT-2664 may delay recording of the transaction.

Who must file: A non-resident of New York State (individual, estate or trust) who conveys shares of stock in a cooperative housing corporation in connection with a proprietary leasehold of a cooperative unit within New York State must complete IT-2664. Bilateral transfers where gain is recognized for federal income tax purposes trigger the requirement.
Submission and timing: The completed IT-2664, along with any required estimated tax payment, must be submitted to the county recording officer at the same time the deed or proprietary lease transfer is recorded. The form is filed in conjunction with TP-584 or TP-584-NYC as applicable for real-estate transfer tax.
Exempt transfers: If the transaction results in a federal recognized loss, or qualifies for non-recognition under federal rules (such as IRC §121 principal residence exclusion or IRC §1031 like-kind exchange), you must still file IT-2664 but may certify non-payment using Part III of the form. A check for zero is acceptable when supported.
Computation of tax: Using the worksheet on IT-2664, calculate the gain (sale price less adjusted basis plus improvements less depreciation, if applicable). Multiply the gain by the applicable New York State income tax rate in effect for the transferor’s taxable year. The result is the estimated income tax due required with the form.
Record-keeping: Keep a copy of the filed IT-2664, proof of payment, the closing statement, basis documentation, and the cooperative corporation’s proprietary lease schedule. At annual income tax filing you apply the payment as a credit against your New York personal income tax liability for that year.

Nonresident Real Property Estimated Income Tax Payment Form
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
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):
Worksheet for Part 2
Use this worksheet to compute your gain or loss on the sale or transfer of the real property. 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; 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.
Computation of cost or other basis
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
17	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
18	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 % ()		19
20	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

Step-by-Step Guide

Step 1: Identify that you are a nonresident of New York and are transferring a cooperative unit based in New York State. Confirm that the transaction is recognized as a gain for federal tax purposes.

Step 2: On IT-2664 follow Part 2 worksheet: enter sale price, adjusted basis and compute gain. Example: sale price $600,000 less adjusted basis $400,000 equals gain $200,000. Calculate tax: if full-year tax rate is 10.90 %, then tax due is $21,800.

Step 3: Submit IT-2664 with the payment (if any) to county recording officer at the time of filing the TP-584. If no payment is due because of a loss or non-recognition event, complete Part III to certify non-payment.

Step 4: On your New York State personal income tax return for the year of transfer (filed the following April), include the gain in your taxable income and apply the estimated tax payment from IT-2664 as a credit.

Tip: Ensure the correct New York tax rate is applied. For part-year transfers where the transferor becomes New York resident or nonresident during year, allocate accordingly to avoid mis-calculation or underpayment penalty.

Last reviewed: 2025-10-29: If you believe this form requires an update, please contact us.

Practical Considerations & Audit Readiness

Coordinate early in the transaction closing process with the title/closing agent to confirm IT-2664 filing and payment escrow as part of closing steps. A failure to submit the form may delay the recording or trigger penalty interest accrual under Tax Law §663(e).

Maintain full documentation: cooperative proprietary lease, cost basis records, improvements and depreciation, and your residency status. Auditors may request verification of basis and whether the sale qualified for any federal exclusion or non-recognition event.

If you are uncertain about portion of unit used as principal residence, or whether federal gain recognition is deferred, obtain a joint statement from seller and buyer specifying dates and basis allocation. Incorrect or incomplete filing of IT-2664 is a frequent issue in audits of nonresident cooperative transfers.

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Frequently Asked Questions

Does IT-203-ATT replace IT-112-R or IT-112-C?

No. Those forms calculate credits for taxes paid to other jurisdictions, and their totals are then entered onto IT-203-ATT where indicated.

How much income can be excluded on IT-221?

You may exclude up to $5,000 ($10,000 for joint filers) of qualifying disability income, reduced by any NY pension or annuity exclusion previously claimed.

Can part-owners of a property claim IT-119?

Yes — if the notice issued reflects the property key and entity ownership, each owner must enter their share of the underpayment on IT-119 and may attach separate forms as required.

Can I use IT-203-B to claim the NY College Tuition Deduction?

Yes. Part 2 of IT-203-B calculates the allowable college tuition itemized deduction or credit, depending on your AGI and tuition amounts paid.

Are HSA contributions deductible for New York tax?

No—unlike the federal system, New York does not allow an HSA deduction.

Important Notes

All calculations are estimates for guidance only. Always review your return and consider professional advice when submitting official filings.