Hi all, I recently moved from a state with no income tax (TX) to a state with income tax (CO). Had a couple questions about how to report my income: Am a part owner in an LLC that reports as a partnership. We own several rental properties, all residing in Texas.Own a rental property as an individual also in Texas.Do I report these as the state they exist in, or as part of my multi-state return based on where I reside? Thanks!

Question

Moved to a different state

Forum|Forum|4 years ago
April 5, 2022
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Hi all,

I recently moved from a state with no income tax (TX) to a state with income tax (CO). Had a couple questions about how to report my income:

Am a part owner in an LLC that reports as a partnership. We own several rental properties, all residing in Texas.
Own a rental property as an individual also in Texas.

Do I report these as the state they exist in, or as part of my multi-state return based on where I reside?

Thanks!

Not A Product Question

M

MAK70

In general, residents pay income tax (if required) on all income regardless of source. Nonresidents pay tax on state-source income (income form working or generated from property in the state). In your case, because you are a part-year resident, you will only have to report and pay for the Texas rental income you earned while a Colorado resident.