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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.
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