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Investors & landlords
I have a similar situation to the original post for 2020. I moved mid-year from Arizona to California, converted my old Arizona house to a rental, and had a net tax loss on the rental property. Like the original post, I am an active participant making below $100,000 per year and not a real estate professional. However, I have income and paid taxes in both states, and I am unsure of where to claim the losses since they are from an Arizona source and occurred when I was a California resident.
I understand how to allocate my other forms of income, and I also understand how the income would be reported if I had a net income on the rental in the future. However, I am unsure how to report the net losses for 2020.
May 4, 2021
5:38 PM