MelanieP
New Member

Investors & landlords

Yes. You can deduct your travel and work related expenses, (the Georgia rental,) to and from Florida and Georgia.

Although Turbo Tax automatically calculates your allowable expenses and deductions, the IRS link below explains in detail how Turbo Tax completes the task. 

http://www.irs.gov/taxtopics/tc511.html

Start the entries in the "Home and Business" product by entering data into the;

1. "Personal Information" (first gray tab on the upper left side of page beneath the blue banner,)

2. If you receive a W2 you will also enter the information in "Personal" (the 3rd gray tab,) under sub tab "Wages and Income" and it auto flows into "Credit and Deductions" and then "State Taxes" Tab as you progress through your filing.

3. If you are a LLC, Corporation, Independent Contractor or Sole Proprietor then you enter the information in the second gray tab "Business" and Turbo Tax guides you through the process. You will be able to create your own W2 or choose an appropriate option for computing the lowest Tax debt or Highest refund available.

The Georgia Department of Revenue link below outlines further details on a "Non-Resident" filing;

http://dor.georgia.gov/ 

"Nonresidents, who work in Georgia or receive income from Georgia sources and are required to file a Federal income tax return, are required to file a Georgia income tax return. Some examples of Georgia source income are wages, Georgia lottery winnings, income from flow through entities (s-corporations, partnerships, LLC’s, trusts, and estates), rents, etc. If you are a legal resident of another state, you are not required to file a Georgia income tax return if your only activity for financial gain or profit in Georgia consists of performing services in Georgia for an employer as an employee when the compensation for services performed does not exceed the lesser of five percent of the income received in all places during the taxable year or $5,000."









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