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I have K1 real estate income from a state other than my state of residence. D I need to file a return in the second state?

 
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DS30
New Member

I have K1 real estate income from a state other than my state of residence. D I need to file a return in the second state?

It depends -

If you have a K-1 that reports income from real estate located in a nonresident state, you may have a nonresident state income tax filing is the rental income meets the filing threshold for the state where the property is located.

If you do have to file a non-resident state income tax return to report your K-1 rental income, then you will be able to claim a resident state income tax credit in your home state for any taxes paid on your nonresident state income tax return.

So you will need to go to the state's department of revenue website for the state were the rental income is coming from and determine if you have a filing requirement as a non-resident. 

If you do have a nonresident state filing requirement, then just follow the TurboTax guide when working on your states (remembering to do your nonresident state return first) and TurboTax will do all the calculations and credits to your resident states return.

Here is additional information about filing in multiple states (select "see more answer" to view the entire attachment)

 

https://ttlc.intuit.com/replies/3300797


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1 Reply
DS30
New Member

I have K1 real estate income from a state other than my state of residence. D I need to file a return in the second state?

It depends -

If you have a K-1 that reports income from real estate located in a nonresident state, you may have a nonresident state income tax filing is the rental income meets the filing threshold for the state where the property is located.

If you do have to file a non-resident state income tax return to report your K-1 rental income, then you will be able to claim a resident state income tax credit in your home state for any taxes paid on your nonresident state income tax return.

So you will need to go to the state's department of revenue website for the state were the rental income is coming from and determine if you have a filing requirement as a non-resident. 

If you do have a nonresident state filing requirement, then just follow the TurboTax guide when working on your states (remembering to do your nonresident state return first) and TurboTax will do all the calculations and credits to your resident states return.

Here is additional information about filing in multiple states (select "see more answer" to view the entire attachment)

 

https://ttlc.intuit.com/replies/3300797


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