New to Rental Property - NJ Resident with Florida Rental Home, Do need to file Florida as a Business Rental?

[RalphNJ_FL]

NJ Resident who has acquired a Florida Rental Property in Oct2021 and have rented out for last 3 month of 2021.

Want to know how to file that rental property in Florida so that I can then complete my NJ filing.

Ay assitance would be greatly appreciated.

[tagteam · Accepted solution]

Florida does not levy a state individual income tax. You do not need to print and mail an income tax return to the state.

The Florida return in TurboTax is to report tangible personal property that is used in a Florida-located business or rental property and is filed with the county property appraiser by April 1st. 

If you do not have tangible personal property to report, choose Skip State in the State Taxes section.

[RalphNJ_FL]

For Residential rental if i'm understanding you correctly, there is nothing to file?

[tagteam]

No income tax return for the state and nothing else unless you need to file a DR-405 with the county appraiser's office.

See https://floridarevenue.com/property/Pages/Taxpayers_TangiblePersonalProperty.aspx

[Carl]

For an unfurnished long term residential rental property in Florida you have absolutely nothing to file with the state of Florida or any lower level government entity within the state. You do not need to complete a Florida state return of any type.

[tagteam]

The problem is we have no idea whether the rental is unfurnished, furnished, long-term, or short-term since @RalphNJ_FL has not provided any details about the property.

[tagteam]

Also, "long-term", in all probability, has a different meaning for different people. 

For the purposes of a residential rental property in Florida, for example, it means a lease longer than 6 months. Any rental period of 6 months or less will entail opening an account with the state and paying state sales tax (also county transient tax in some counties).