Nonresident estates or trusts.
(c) Nonresident estates or trusts. The fiduciary of a nonresident estate or trust must file a New York State fiduciary income tax return for a short taxable period if:
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(c) Nonresident estates or trusts. The fiduciary of a nonresident estate or trust must file a New York State fiduciary income tax return for a short taxable period if:
(1) the estate or trust has items of income or gain derived from New York State sources in excess of its New York personal exemption. However, notwithstanding the provisions of the preceding sentence, a New York State fiduciary income tax return must be filed for such short taxable period where a nonresident estate or trust incurs a net operating loss for New York State personal income tax purposes but does not incur a net operating loss for Federal income tax purposes; or
(2) the estate or trust has any items of tax preference derived from or connected with New York State sources (determined under section 141.1[b] of this Title) for such period in excess of the allowable specific deduction (determined under section 141.2(b) of this Title); or
(3) 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
(4) the estate or trust received a lump sum distribution during such period, any portion of which is derived from or connected with New York State sources (determined in accordance with the provisions of section 142.1 of this Title) and which is subject to the separate tax imposed by section 601-C of the Tax Law. It should be noted that the New York personal exemption of a nonresident estate or trust is required to be prorated in determining the New York taxable income for a short taxable period due to a change of accounting period or a change of residence of a nonresident trust. However, the New York personal exemption is not required to be prorated in determining the New York taxable income of an estate or trust for its first taxable year although its first taxable year is for a period of less than 12 months.