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Investors & landlords
@KrisD15 the question pertains to the difference between what's taxable at the federal level, and what's taxable at the state level. Now I don't know enough about state taxes to provide a definitive response. But looking at the difference between the two, it appears to me that the state is taxing the gain, as well as the depreciation at the same rate. It's just a guess, as the difference between the two figures looks to me like it could be the amount of depreciation taken over the 3 years it was a rental.
March 27, 2022
8:39 AM