Solved
Are Income Taxes paid to another State deductible as an expense from Farm Land Cash Rent?
We know property taxes, insurance and professional fees are deductible on Schedule E and are clearly presented in Turbo Tax Premier. This past year we paid income taxes on the cash rent made on a piece of land in another state from which we live. Are those out-of-state income taxes from the cash rent deductible on our federal return (IE. lower our tax liability on the cash rent we earned as do the property taxes, insurance and professional fees). If so, where in Turbo Tax Premier is the location to enter them?
