I have rental income loss on Fed return. The property is in IL but I moved to GA on 7/1/18. How do I report/allocate this loss on my IL and GA state tax returns?

This has been a rental property since 1994. I completed the IL return first as suggested since I left that state. Turbo Tax is prompting me to allocate the rental income loss (Sch E) and special depreciation being reported on IL-4562 between IL and GA. Do I simply do 50/50 split for these amounts since I moved mid-year?

868

Expert Alumni

Jun 4, 2019 9:37:02 PM

No, as long as you have the rental property in Illinois, you will report it all on an Illinois Non-Resident return. For 2018, report all the rental income on an Illinois Part-Year Resident return.

More info:

https://ttlc.intuit.com/replies/4777207

Why sign in to the Community?

I have rental income loss on Fed return. The property is in IL but I moved to GA on 7/1/18. How do I report/allocate this loss on my IL and GA state tax returns?