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nelsonga100,
Sorry, but California taxes all income earned while you are a CA resident so that includes the IA farmland. If, as I suspect, you are also on the hook to IA on that same income, you get to claim a credit against your CA tax bill for the income tax you pay to IA.
Thank you for the response. I was afraid that was the situation. Do you know how I claim the credit for the IA tax bill?
Go into the CA state return and select Credits and Taxes. Then select Other State Tax Credit.
Thank you for your help. It is much appreciated!
You're most welcome.
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