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Investing
You can do it all online. TurboTax Online lets you prepare and file (electronically or on paper) up to five state returns per federal tax return.
Prepare your returns in this order:
- Federal
- Nonresident State (Oklahoma)
- Resident State (Ohio)
Ohio will give you credit for any tax paid to Oklahoma on your income from renting farm equipment. TurboTax will automatically calculate the other state tax credit if the nonresident state is prepared first.
Income earned anywhere is taxable to your resident state, so both Ohio and Oklahoma will tax your rental income (or allow you to claim a loss).
‎August 5, 2021
6:10 PM
2,129 Views