Passive loss carry forward: Loss generated by NM partnership, offsets MI gain on federal return. Not allocated to either state return. Is software correct?

CLRR · ‎March 23, 2020

KrisD15 · ‎March 23, 2020

The loss will lower your Federal Adjusted Gross Income, but not your Michigan taxable income since it is not attributed to Michigan income.

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CLRR · ‎March 23, 2020

I am an New Mexico resident. Shouldn't it lower my NM income?

MaryK4 · ‎March 23, 2020

A passive loss caryyforward has the same effect on your state return as your federal in most cases.

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Do you have an Intuit account?