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posted Feb 20, 2024 10:12:17 AM

What state is interest income for a mortgage loan reported to?

I am a private investor and I made a mortgage loan to a borrower who has an apartment complex in Texas.  I live in California.  Is the interest income received from this loan considered income for California or Texas?

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Employee Tax Expert
Feb 20, 2024 10:47:31 AM

If you live in CA, all income from any source is included and taxable by CA.

 

In general, income is also taxable in the nonresident state where the source of the income is located, which would be Texas for you.  Since Texas does not have a state income tax, you do not need to file anything with Texas, only with CA.