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tsm55
Level 1

Non resident of NC with a rental property

I am a nonresident of North Carolina with a rental property in the section for nonresident income allocations under Rental/Royalty Income (Loss)  would that be my rental income minus my deductions (expenses) for the property

1 Best answer

Accepted Solutions
Irene2805
Expert Alumni

Non resident of NC with a rental property

No - Do not change the $0 that TurboTax carried over from your federal return.  To be on the safe side, go ahead and prepare the NC nonresident return even though it shows no net income.  

 

The North Carolina Individual Income Tax Instructions state that you need to file a NC return if  "your total gross income from all sources both inside and outside of North Carolina exceeds the amount in the Filing Requirements Chart on Page 6 for your filing status.

 

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3 Replies
DianeC958
Expert Alumni

Non resident of NC with a rental property

Yes,  if that is your only income in North Carolina. The information that shows should agree with the overall profit/loss you have for your rental property.

 

@tsm55

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tsm55
Level 1

Non resident of NC with a rental property

It is the only income for NC, however in the Federal Income Column for Rental/Royalty Income (Loss) in the NC State Return Turbotax carried over $0 and I am not sure if I would have to change that or not (I completed my Federal income tax already and entered the information for the NC rental property which included income and expenses 

Irene2805
Expert Alumni

Non resident of NC with a rental property

No - Do not change the $0 that TurboTax carried over from your federal return.  To be on the safe side, go ahead and prepare the NC nonresident return even though it shows no net income.  

 

The North Carolina Individual Income Tax Instructions state that you need to file a NC return if  "your total gross income from all sources both inside and outside of North Carolina exceeds the amount in the Filing Requirements Chart on Page 6 for your filing status.

 

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