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I have multiple rentals in different states. Can I use losses in one state to offset income in another?
For example, if my residential rentals have:
1) NET loss of 10k in NH
2) NET profit of 10k in MA
From the federal tax perspective, my Schedule E income will be $0, if I understand correctly. But how does it work from the NH and MA states perspective?
1) NET loss of 10k in NH
2) NET profit of 10k in MA
From the federal tax perspective, my Schedule E income will be $0, if I understand correctly. But how does it work from the NH and MA states perspective?
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May 17, 2021
5:46 PM