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Level 2
posted Jul 21, 2022 10:30:47 PM

How to do New York Income Allocation for retnals

I own a rental property in New York and there is a loss (e.g. -5000). So I think in federal, it shows as 0 income. 

I don't live in NY. When I do my state returns for my non-resident state (NY), I see "Federal Income - Rental, Royalties, Partnership" is 0. In this case do I need to report the -5000 in "New York Source Portion"?  Or put "0" ?

Thanks!

0 1 398
1 Best answer
Level 15
Jul 22, 2022 9:53:44 AM

Information input into the federal return component of the program does not always get transferred to the state return.

 

As a result, it is likely you will have to manually enter the loss into the state source section.

 

You can always contact Support for confirmation.

 

What is the TurboTax phone number? (intuit.com)

1 Replies
Level 15
Jul 22, 2022 9:53:44 AM

Information input into the federal return component of the program does not always get transferred to the state return.

 

As a result, it is likely you will have to manually enter the loss into the state source section.

 

You can always contact Support for confirmation.

 

What is the TurboTax phone number? (intuit.com)