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I own properties in 3 states - CO, OH and MI. If I have a net loss on all my properties combined by Michigan has a net positive income, do I still owe for MI?
I own properties in 3 states - CO, OH and MI.
On all properties combined in the 3 states, I am posting a net loss on my Schedule E.
However, for Michigan properties only, there is a combined (3 properties) net positive operating income.
So do I pay taxes to Michigan on that net positive then?
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‎June 3, 2019
1:47 PM