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Level 1

Do i need to file a Michigan tax return for 2nd home if we didn't make a profit. retired couple from Ohio

we purchased the home in 2017 for $74,900. Sold in 2018 for 90,000. Improvements totaled more than the profits. Do we need to file Michigan taxes? We are both retired and reside in Ohio. I received a form 1099S, but don't see where to enter the details on the Michigan form.

thank you. Laura

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Accepted Solutions
Level 11

Do i need to file a Michigan tax return for 2nd home if we didn't make a profit. retired couple from Ohio

No. Since there was a loss, you have no MI income to report and do not need to file a MI return.

2 Replies
Level 11

Do i need to file a Michigan tax return for 2nd home if we didn't make a profit. retired couple from Ohio

No. Since there was a loss, you have no MI income to report and do not need to file a MI return.

Level 1

Do i need to file a Michigan tax return for 2nd home if we didn't make a profit. retired couple from Ohio

Thank you