- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors & landlords
Yes, you do have to file a CA tax return if you have both of the following:
- California source income (gross income, not net income/profit)
- Income from all sources that is more than the amount defined in this chart (attached)
If you had net income from the CA rental property, IL will also tax that income. They will, however, give you a Credit for Tax Paid to Other States. To ensure you get the IL Credit for Tax Paid to Other State, you need to complete your CA tax return before doing your IL return.
‎June 5, 2019
10:17 PM