Resident estates or trusts.
(b) Resident estates or trusts. The fiduciary of a resident estate or trust must file a New York State fiduciary income tax return for a short taxable period if:
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(b) Resident estates or trusts. The fiduciary of a resident estate or trust must file a New York State fiduciary income tax return for a short taxable period if:
(1) a Federal income tax return is required to be filed for such short taxable period; or
(2) the estate or trust has any New York taxable income for such period (see Part 118 of this Title); or
(3) the estate or trust has any New York items of tax preference for such period in excess of the allowable specific deduction determined under section 122.7(b) of this Title; or
(4) the estate or trust is subject to the separate tax imposed by section 601-D of the Tax Law upon the termination during such period of a qualified higher education fund; or
(5) the estate or trust received a lump sum distribution during such period, any portion of which is subject to the separate tax imposed by section 601-C of the Tax Law. In determining whether a resident estate or trust has any New York taxable income for such short taxable period, the New York personal exemption allowable for a full year must be prorated according to the number of months in a short period in cases where the short taxable period is due to a change in accounting period or a change of residence of a trust. However, the New York personal exemption of a resident estate or trust is not required to be prorated in determining the New York taxable income of such estate or trust for its first taxable year although its first taxable year is for a period of less than 12 months.