I own 2 separate businesses. One is in Georgia where I reside and one is in California which I visit frequently to manage the business. I use Turbo Tax. I only want to show the income earned in Georgia on the Georgia return and the same for California, but it looks like Turbo Tax is reporting "all" income on both state returns. Any advice on how to segregrate the returns? Thanks, Darrell
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You need to file a GA resident return and a CA nonresident return. Your resident state (GA) will tax all of your income, but they will also give you credit for the tax you pay to CA on your GA return (removes the impact of double taxation). On your CA nonresident return, you will only report the income and expenses that are CA sourced. When you go through the interview, TurboTax will ask you what income/deductions are CA sourced and which are not CA sourced.
Do I have to file tax returns in more than one state?
Why would I have to file a nonresident state return?
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