Thank you. I appreciate the insight.
Some follow-ups:
- I'm not claiming any carryover losses this year. I DID have losses on the property last year, but they were offset by other gains and didn't carryover. This of course was not filed in the property state but in my home state last year.
- How many prior years would you recommend filing with the property state? However many is the statute of limitations for the state (so 3)? Or all missed returns (say 6)?
- And would you then also recommend amending my returns in my home state?
- And a different question that I can't find a good answer to: How does the property state know to expect a return from me when the property is sold? To be clear, I'm not planning to do this but am just curious: since I haven't filed a return for a while, is the state more likely to notice me not filing a return in the year the property is sold?
Thank you again!
