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out of state rental property
I sold an out of state rental property this past year that generated a loss on Schedule E but the "Sale of Business Property" shows a net gain. There were also capital loss carryovers that applied. It would seem that I need to file income taxes in that state, but when I add the return for the state, the turbotax software doesn't pull anything associated with the address of the property to be taxed. Am I supposed to allocate income to that state from my capital gains, and if so, how would I know how much to allocate?
‎February 9, 2024
1:58 PM