DianeW777
Expert Alumni

Investors & landlords

Yes, you are correct. Only holdings for nonresident states would need to be continually tracked so that you have the required information for each particular state. It's part of the process in  your situation.

 

The filing requirement is important for each state as well. Some nonresident states require a return if you file federal and any income is from their state, some require only if you meet the filing requirement, still others require net income versus gross income. 

For any state that is not required to be filed, then you would need to manually track the carryforwards if they also conform to the federal tax laws.

 

@plawlor78 

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