AmyC
Employee Tax Expert

Investors & landlords

1. I see a gain, not a loss. Your suspended loss should be included to remove the gain.

2. As a MI resident, not all income is subject to tax. The sale of outside property is not taxable in Michigan and is not subject to Michigan state income tax according to this State of Michigan link.

Additional reference:

MI-1040 Instructions (no forms)

[Edited 1/28/2024| 4:30 PST]

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