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after filling the federal income tax, does the state tax takes its information from the federal, or I have to reenter it separately

Hi,

 

I entered the federal condo rental income. I was wondering if the Turbo tax home and business will propagate this information to the state of illinois, or I have to reenter this information the state income tax.

 

Best...

 

Tarek

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1 Best answer

Accepted Solutions
DMarkM1
Expert Alumni

after filling the federal income tax, does the state tax takes its information from the federal, or I have to reenter it separately

Yes, allocate the net Schedule E income shown on your federal return, which would include your rental income, using the "Rent, Royalty, K-1" category in the IL interview.

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8 Replies
PaulaM
Expert Alumni

after filling the federal income tax, does the state tax takes its information from the federal, or I have to reenter it separately

There may be state specific items that you will need to complete, but most states begin with the federal adjusted gross income which will have your condo rental income accounted for. 

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after filling the federal income tax, does the state tax takes its information from the federal, or I have to reenter it separately

thank you!

 

I tried to go through the state interview, I found four options:

 

Divident

real estate K-1, which I think is the one that is relevant. Should I put the net income in this category, income-expenses.

 

I appreciate your help

ThomasM125
Expert Alumni

after filling the federal income tax, does the state tax takes its information from the federal, or I have to reenter it separately

Could you please clarify what state you are working with so we can help you better?

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after filling the federal income tax, does the state tax takes its information from the federal, or I have to reenter it separately

I live in Nevada, and my rental property is in Chicago IL

DawnC
Expert Alumni

after filling the federal income tax, does the state tax takes its information from the federal, or I have to reenter it separately

You need to put IL in the 'other state income' box so TurboTax will generate a nonresident tax return for Illinois.   How to file a nonresident return

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after filling the federal income tax, does the state tax takes its information from the federal, or I have to reenter it separately

I did that. Going through the interview on Turbo tax home and business, I got this page,

Illinois Part year, and nonresidents. on this page

 

Allocate your federal income to illinois

 

Divident income

Business income or loss

Capital gain or loss

Rents, Royalties, and K-1 income

Unemployment compensation.

 

which category of these, I use for my rental income? Should I use the Rents, Royalties, and K-1 income category and put my net income? please let me know.

 

Best...

 

 

DMarkM1
Expert Alumni

after filling the federal income tax, does the state tax takes its information from the federal, or I have to reenter it separately

Yes, allocate the net Schedule E income shown on your federal return, which would include your rental income, using the "Rent, Royalty, K-1" category in the IL interview.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

after filling the federal income tax, does the state tax takes its information from the federal, or I have to reenter it separately

Thank you!

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