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C
cvk100
February 22, 2023
Question

CA state: section on passive loss carryovers for rentals. Is this something i need to enter? if so, how do i get the amounts? fed return shows passive loss in 21 & 22

  • February 22, 2023
  • 1 reply
  • 0 views
Schedule E has details. 
I have 2 properties - 1 in CA and 1 in CO. I am assuming i will need to enter info if any only for CA property, right? (since it is CA state tax)

1 reply

C
Cynthiad66
February 22, 2023

Yes you will need to prepare a CA Non-resident return.  Prepare CA Non Resident return first since CO was your resident state.  

 

As a nonresident, you pay tax on your taxable income from California sources.

Sourced income includes, but is not limited to:

  • Services performed in California
  • Rent from real property located in California
  • The sale or transfer of real California property
  • Income from a California business, trade or profession
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