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Deductions & credits
Is sale of real property located outside of Michigan taxable in Michigan? Instructions for form MI-8949 say no.
I don't have any excluded foreign income (not elegible), I only have foreign tax credit.
PDF you have provided a link to: "Under the Michigan Income Tax Act (ITA), an individual domiciled in this state is subject to a tax upon all taxable income from any source whatsoever, except that attributable to another state"
I think my capital gains from sale of overseas real estate is attributable to another state. Per ITA 206.20 "state" means foreign country too.
I don't have any excluded foreign income (not elegible), I only have foreign tax credit.
PDF you have provided a link to: "Under the Michigan Income Tax Act (ITA), an individual domiciled in this state is subject to a tax upon all taxable income from any source whatsoever, except that attributable to another state"
I think my capital gains from sale of overseas real estate is attributable to another state. Per ITA 206.20 "state" means foreign country too.
‎June 6, 2019
8:14 AM