N.Y. Tax Law § 633 — New York source income of a nonresident estate or trust

§ 633. New York source income of a nonresident estate or trust. (a)\nGeneral. The New York source income of a nonresident estate or trust\nshall be the sum of the following:\n (1) The net amount of items of income, gain, loss and deduction\nentering into federal adjusted gross income, as determined under\nparagraph four of subsection (e) of section six hundred one, derived\nfrom or connected with New York sources. Such determination of source\nshall be made in accordance with the applicable rules of section six\nhundred thirty-one as in the case of a nonresident individual.\n (2) The portion of the modifications described in section six hundred\neighteen which relate to income derived from New York sources other than\nthat portion of the modification provided in subsection three thereof\nwhich relates to section six hundred fifteen.\n (b) Special New York source rules. Deductions with respect to capital\nlosses, passive activity losses and net operating losses shall be based\nsolely on income, gains, losses and deductions derived from or connected\nwith New York sources, under regulations of the tax commission, but\notherwise determined in the same manner as the corresponding federal\ndeductions.\n