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anthemakers
Returning Member

How to report a profit for Rent/Royalties on State Return when Federal amount is $0

We have rental properties in four different states.  In three of the states, we have a net loss and on our federal return, the total reportable income for Rents, Royalties, and All K-1s is $0.  

 

My question is for the one state where we show a profit, do we need to report the net profit on that state's return OR given our federal amount is $0, do we leave the amount at $0?  

 

Also - should we be reporting the individual net loss on the return for the other three states?

 

Thank you,Tax Info - AZ.png

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1 Reply
DianeW777
Expert Alumni

How to report a profit for Rent/Royalties on State Return when Federal amount is $0

It depends on the state for the ones that have losses.  As far as the one with a profit, you need to file that return assuming you are required to file the federal.  You can use the link below to click on each state to find the filing requirements for nonresidents.

As a side note, the determination for filing the federal return is not decided on the net profit of rentals but rather the income received from rents.  It is likely the same in most states. Many states require you to file if you must file the federal return if there is nonresident income from their state. 

 

You will not be reporting the overall net loss on nonresident states, only the income that belongs to that state.

 

@anthemakers

 

[Edited: 03/02/2024 | 3:52 PM PST]

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