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Investors & landlords
Thank you for your reply, it implemented it in TT
I am still confused about the AL reporting requirements:
You are required to file an Alabama (AL) return if as a nonresident your income is over the allowable prorated exemption (full year resident amounts are $3,000 for married filing jointly and $1,500 for single). AL Instructions
- Prorated generally means the AL income divided by the total income (or taxable income)
1. Let's say the total income is $100,000 and the Alabama income is $10
Would my prorated calculation be 100,000 /10 = 10,000 or 10/100 K= 0.0001 ?
If I understood your comment well, I should be dividing AL income ($10) by the total income ( S100 K) giving an amount lower than the 3,000/1.500 exception, therefore, no need to file a return? If it's done the other way, there would be a need to file a return.
2. What number I need to use? Is it the total income or the taxable income? In my return, those are 2 different numbers: the taxable income is the total income minus deductions.