- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors & landlords
Yes @AmyC it is a NY rental. Inherited an old family property in 2019 with a beloved old tenant I couldn't evict no matter how much it ended up costing me in regular earned income, and now that it could finally be sold upon her passing I do have that loss to claim. I saw your other post that I think you may have deleted, that MI would indeed cut me a break for taking such a bath on what happened in NY. It could very well be true and I hope it is.
But guess what I just learned in stepping through a return in TT Online to compare the process? Can't e-file MI with a second copy of MI-4797 pg 2! Since I had 4 long term improvement assets disposed of not including the building, I have an extra page. So I guess this will be a paper return in the end anyway!
I really appreciate your input. Yesterday I gave it a whirl and called a local "tax pro" for my own peace of mind and he hadn't ever even filled out a MI-1040D, so that was no help. This morning I put in a general inquiry to the MI Treasury asking if this loss should not be an addition to my Sch 1 MI AGI (just got in under my 400 char limit) so we'll see what they say. I sure hope they agree with you that my Fed and MI AGI can stay the same! I can update later :). Thanks again!