turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Do I need to file a SC tax return? I have a rental property there, but overall lost money on the rental. I am full time resident in NC.

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

5 Replies
ToddL
New Member

Do I need to file a SC tax return? I have a rental property there, but overall lost money on the rental. I am full time resident in NC.

If you had  South Carolina gross income  greater than the federal personal exemption amount ($4000), then you are required to file a SC tax return.

From the South Carolina Department of Revenue website (2015 SC1040 INDIVIDUAL INCOME TAX FORM & INSTRUCTIONS):

If you are a  nonresident or part-year resident whose South Carolina gross income is greater than the federal personal exemption amount, you must file a South Carolina income tax return.

 You may not owe SC tax because of the net loss, but the state requires a tax return if your gross rental income is greater than $4000.


greg97
Returning Member

Do I need to file a SC tax return? I have a rental property there, but overall lost money on the rental. I am full time resident in NC.

Was this also true for a 2018 Return in South Carolina?

Do I need to file a SC tax return? I have a rental property there, but overall lost money on the rental. I am full time resident in NC.

I know that I do need to schedule a SC nonresident return for my rental property. However, when it is asking for SC rents, royalties, and K-1 income, do I put zero (which is my net income according to my federal return after expenses) or do I put the gross rental income (without subtracting expenses)?

 

I am specifically referring to line 11 on SC Form Schedule NR.

Do I need to file a SC tax return? I have a rental property there, but overall lost money on the rental. I am full time resident in NC.

Edited to add that the instructions for Line 11 say: “Enter in Column B the income or loss from property located in SC…”

PattiF
Expert Alumni

Do I need to file a SC tax return? I have a rental property there, but overall lost money on the rental. I am full time resident in NC.

You would enter $0 into this space, the instructions say to enter income or loss and you had no income. Line 48 on the form, for South Carolina taxable income, instructs you that "if less than zero, enter zero".

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question