You'll need to sign in or create an account to connect with an expert.
I just wanted to confirm that the Montana state tax for rental income is NET, correct? So if my rents are $10,000 as reported on my 1099-MISC, but after expenses my fed form E equals $0, do I report the $10,000 of gross income or the $0 from Fed Sch E (after expenses / losses) to the state of Montana? Thank you.
The amounts from Schedule E on the federal return will flow to the Montana return. If Schedule E has a net of zero, then that is what will be carried to the Montana income tax return.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
chunhuach
Level 1
SelenaP
New Member
jb_atl
New Member
TravindyB
New Member
lnk-fr
Level 2
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.