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I have rental property in MS, but I am a FL resident. I inputted that I am a resident of FL but an nonresident of MS. How come my stock profits affect the MS taxes?

 
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AmandaR1
New Member

I have rental property in MS, but I am a FL resident. I inputted that I am a resident of FL but an nonresident of MS. How come my stock profits affect the MS taxes?

Only your MS derived income should be taxable in MS. I'd recommend going through the state again and reviewing your entries. 

Each state works differently in TurboTax according to the state's rules, but you will be asked about what income is sourced to MS. You'll need to double check these entries by reviewing the state questions.  

To do so: From within your return >>> click on the State Taxes tab >>> select Edit next to MS

Let me know if you have questions. 

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1 Reply
AmandaR1
New Member

I have rental property in MS, but I am a FL resident. I inputted that I am a resident of FL but an nonresident of MS. How come my stock profits affect the MS taxes?

Only your MS derived income should be taxable in MS. I'd recommend going through the state again and reviewing your entries. 

Each state works differently in TurboTax according to the state's rules, but you will be asked about what income is sourced to MS. You'll need to double check these entries by reviewing the state questions.  

To do so: From within your return >>> click on the State Taxes tab >>> select Edit next to MS

Let me know if you have questions. 

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