topic Should I owe CO state tax on CO rental income (I am a CA resident) if my deductible expenses are greater than the income, so no net income? in Investors & landlords https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/should-i-owe-co-state-tax-on-co-rental-income-i-am-a-ca-resident-if-my-deductible-expenses-are/01/711785#M31586 Thu, 06 Jun 2019 14:17:03 GMT bill-s1 2019-06-06T14:17:03Z Should I owe CO state tax on CO rental income (I am a CA resident) if my deductible expenses are greater than the income, so no net income? https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/should-i-owe-co-state-tax-on-co-rental-income-i-am-a-ca-resident-if-my-deductible-expenses-are/01/711785#M31586 Thu, 06 Jun 2019 14:17:03 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/should-i-owe-co-state-tax-on-co-rental-income-i-am-a-ca-resident-if-my-deductible-expenses-are/01/711785#M31586 bill-s1 2019-06-06T14:17:03Z No, you won't owe CO tax if you have a rental loss.  You... https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/no-you-won-t-owe-co-tax-if-you-have-a-rental-loss-you/01/711789#M31588 <P><B>No, you won't owe CO tax if you have a&nbsp;<I>rental loss</I>.&nbsp;&nbsp;</B>You have no net income for Colorado, so there will be no tax.&nbsp; Even though this is the case, however, you may still&nbsp;<I>choose to file&nbsp;</I>a Colorado return.&nbsp; This may be the case, for example, if you claimed&nbsp;<I>positive&nbsp;</I>rental income in a prior year to Colorado.&nbsp; But, without any net income, you are not&nbsp;<I>required&nbsp;</I>to file a Colorado return, and you won't owe tax to Colorado.<BR /></P> Thu, 06 Jun 2019 14:17:04 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/no-you-won-t-owe-co-tax-if-you-have-a-rental-loss-you/01/711789#M31588 DanielV01 2019-06-06T14:17:04Z Re: No, you won't owe CO tax if you have a rental loss. You... https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-no-you-won-t-owe-co-tax-if-you-have-a-rental-loss-you/01/1653193#M53693 <P>So glad someone else had the same question!&nbsp;<BR />As an extension - when I do the calculations manually, I come up with a $-92 tax.&nbsp; How does that work with taxes?</P> Wed, 01 Jul 2020 19:02:10 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-no-you-won-t-owe-co-tax-if-you-have-a-rental-loss-you/01/1653193#M53693 ckjacroux 2020-07-01T19:02:10Z
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topic Should I owe CO state tax on CO rental income (I am a CA resident) if my deductible expenses are greater than the income, so no net income? in Investors & landlords
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Should I owe CO state tax on CO rental income (I am a CA resident) if my deductible expenses are greater than the income, so no net income?
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No, you won't owe CO tax if you have a rental loss.  You...
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<P><B>No, you won't owe CO tax if you have a&nbsp;<I>rental loss</I>.&nbsp;&nbsp;</B>You have no net income for Colorado, so there will be no tax.&nbsp; Even though this is the case, however, you may still&nbsp;<I>choose to file&nbsp;</I>a Colorado return.&nbsp; This may be the case, for example, if you claimed&nbsp;<I>positive&nbsp;</I>rental income in a prior year to Colorado.&nbsp; But, without any net income, you are not&nbsp;<I>required&nbsp;</I>to file a Colorado return, and you won't owe tax to Colorado.<BR /></P>
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Re: No, you won't owe CO tax if you have a rental loss. You...
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https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-no-you-won-t-owe-co-tax-if-you-have-a-rental-loss-you/01/1653193#M53693
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<P>So glad someone else had the same question!&nbsp;<BR />As an extension - when I do the calculations manually, I come up with a $-92 tax.&nbsp; How does that work with taxes?</P>
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