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Investors & landlords
Thanks for the link. I found the following explanation:
"How California taxes residents, nonresidents, and part-year residents
California residents - Taxed on ALL income, including income from sources outside California.
Nonresidents of California - Taxed only on income from California sources.
Part-year residents of California - Taxed on all income received while a resident and only on income from California sources while a nonresident."
I think I would qualify as a nonresident or part time resident at best. It seems that in either case since I am not earning anything from a California source, I would not pay any extra tax because of this lease. Is that correct? Thanks!
"How California taxes residents, nonresidents, and part-year residents
California residents - Taxed on ALL income, including income from sources outside California.
Nonresidents of California - Taxed only on income from California sources.
Part-year residents of California - Taxed on all income received while a resident and only on income from California sources while a nonresident."
I think I would qualify as a nonresident or part time resident at best. It seems that in either case since I am not earning anything from a California source, I would not pay any extra tax because of this lease. Is that correct? Thanks!
‎June 6, 2019
6:23 AM