Solved: How much income is required to file a south carolina return? I live in NC and have a rental there but it only made $1500 in 2016.
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How much income is required to file a south carolina return? I live in NC and have a rental there but it only made $1500 in 2016.

 
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Level 15

How much income is required to file a south carolina return? I live in NC and have a rental there but it only made $1500 in 2016.

Your K-1 is below the $4,050 so no return is required to be filed for SC.

A nonresident individual having South Carolina rental property as an investment in South Carolina should file Form SC1040 and Schedule NR - Nonresident Schedule. Rents received from the rental of real estate, less all related expenses, are allocated to South Carolina providing the property is not used in or connected with the taxpayer's trade or business.

See Code Section 12-6-2220.

Source:  https://dor.sc.gov/tax/individual-income/faq

A nonresident individual must file if the gross income taxable to South Carolina is more than the federal personal exemption amount. A nonresident individual files a Form SC1040 South Carolina Individual Income Tax Return and Schedule NR Nonresident Schedule.

See Code Sections 12-6-1720 and 12-6-2220.?

This personal exemption amount is $4,050.  Due to coming on K-1, you do not have to file a SC return. 

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5 Replies
Level 15

How much income is required to file a south carolina return? I live in NC and have a rental there but it only made $1500 in 2016.

Your K-1 is below the $4,050 so no return is required to be filed for SC.

A nonresident individual having South Carolina rental property as an investment in South Carolina should file Form SC1040 and Schedule NR - Nonresident Schedule. Rents received from the rental of real estate, less all related expenses, are allocated to South Carolina providing the property is not used in or connected with the taxpayer's trade or business.

See Code Section 12-6-2220.

Source:  https://dor.sc.gov/tax/individual-income/faq

A nonresident individual must file if the gross income taxable to South Carolina is more than the federal personal exemption amount. A nonresident individual files a Form SC1040 South Carolina Individual Income Tax Return and Schedule NR Nonresident Schedule.

See Code Sections 12-6-1720 and 12-6-2220.?

This personal exemption amount is $4,050.  Due to coming on K-1, you do not have to file a SC return. 

View solution in original post

New Member

How much income is required to file a south carolina return? I live in NC and have a rental there but it only made $1500 in 2016.

Does the fact that it's a multi member LLC in North Carolina change anything?
Level 15

How much income is required to file a south carolina return? I live in NC and have a rental there but it only made $1500 in 2016.

Does the multi-member LLC file a 1120-S return or 1065?
New Member

How much income is required to file a south carolina return? I live in NC and have a rental there but it only made $1500 in 2016.

1065
Level 15

How much income is required to file a south carolina return? I live in NC and have a rental there but it only made $1500 in 2016.

I edited answer above based on additional detail in comments on 3-17-2017.
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