- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
When you report the Sale of Rental Property in your Federal return, you may have a Capital Gain/Loss, which will be included in your Adjusted Gross Income amount.
In the Michigan interview, you may need to indicate the amount of Capital Gain/Loss that relates to the Michigan property sale as an 'Adjustment' from the amount that carries over from your Federal return.
Here's more info from Michigan Dept. of Revenue.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
March 28, 2023
12:03 PM