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Stocks, Investment, and Real Estate Questions Answered by a NYC Tax Specialist

We receive a tremendous amount of questions about investment and real estate-related taxes every year. These types of taxes can often be complex and challenging to handle. Below are just a sample of commonly asked questions that clients ask regarding investments, real estate, and rental income.

Does New York City Tax Investment Income

As a resident of NYC, you have to pay New York City tax on your worldwide income regardless of that source.

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The Difference Between Short Term Capital Gains and Long Term Capital Gains

What defines a short-term capital gain is if you have held an asset- property, stock, cryptocurrency, etc- for less than 12 months. If you have held it longer than 12 months, that makes it a long-term capital gain.

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How can I defer investment income in New York

When it comes to stocks, bonds, interest dividends, and cryptocurrency, there is no way to defer it. When you earn the income or sell the asset, that’s when you’re going to be taxed.

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Do I have to pay New York City or State Taxes on Airbnb Income

When it comes to rental, real estate, or Airbnb income, you have to pay NYC taxes at the state and federal levels. You do not have to pay taxes if it is your own personal home that you only rented out for 14 days or less on the calendar year.

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Do I have to pay New York City or State Taxes on rental income if I am not a New York Resident

If you’re not a New York resident, but you earned money in New York, you will have to pay taxes.

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Do I Have to Pay New York Taxes on Foreign Investment Income

When it comes to reporting foreign income, you do not want to mess around because the penalties are becoming more and more significant. To avoid any penalties, make sure that you’re accurately reporting and paying.

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