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jp3
New Member

I have rental property in florida, but live in Oregon- does that count as Oregon income for Oregon to tax

 
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3 Replies
bwa
Alumni
Alumni

I have rental property in florida, but live in Oregon- does that count as Oregon income for Oregon to tax

Yes, it does.

The normal rules for interstate taxation are -

·         you file a non-resident return for the states where you worked but did not live, reporting only the income earned in that state.

·         you file a resident return for the state you live in reporting all of your income, no matter where it was earned. You claim on your home state resident return a credit for taxes paid to other states that you worked in. If the out of state income was from a state without an income tax, you would have no credit.

The result of these rules is that you will pay tax on the income, but only once, and the net result is it will be at the tax rate in the higher tax state.

·         If the resident state is a non-income tax state like Florida, Texas and others, the result will be that you still will owe taxes in your non-resident state.

·         If the non-resident state is a non-income tax state like Florida, Texas and others, the result will be that you still will owe taxes in your resident state.

There are some exceptions to this rule, but  can handle them. Exceptions are in "Reciprocal Tax Agreement" states (a list is here http://taxes.about.com/od/statetaxes/a/reciprocal-agreements.htm ). This URL provides information on filing multi-state returns here: https://ttlc.intuit.com/questions/1900021


jp3
New Member

I have rental property in florida, but live in Oregon- does that count as Oregon income for Oregon to tax

What if I was in Oregon for only half the year?
bwa
Alumni
Alumni

I have rental property in florida, but live in Oregon- does that count as Oregon income for Oregon to tax

Then you would file a partial year resident return for OR, reporting only the income earned during that period.

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