I made over $2000 in rental income in a nonresident state, but it was completely offset by expenses and deductions. Do I actually need to file a state return?
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I made over $2000 in rental income in a nonresident state, but it was completely offset by expenses and deductions. Do I actually need to file a state return?
Home state: WA (no income tax) nonresident state: NY Gross rental income: $15900 Final value is a net loss after including all expenses, depreciation, deductions, etc. (property taxes are sooooo ridiculous).
I made over $2000 in rental income in a nonresident state, but it was completely offset by expenses and deductions. Do I actually need to file a state return?
Yes, you need to file the return. Otherwise, the state will assume all rental income is profit and expect you to pay taxes on it.
I made over $2000 in rental income in a nonresident state, but it was completely offset by expenses and deductions. Do I actually need to file a state return?
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