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avaccaro
February 16, 2024
Question

Negative rental income, but owe NE

  • February 16, 2024
  • 1 reply
  • 0 views

I live in Texas but have a rental property in Nebraska that I own. This year I am $4,000 in negative income from my rentals. However, as of right now, it is saying I owe NE $1,400. How can this be?

    1 reply

    R
    RobertB4444
    February 17, 2024

    The system transfers a lot of information over to the state returns.  So you need to go through the state return that TurboTax has generated for you and tell it that every item of income on your return is not subject to state tax except for your rental loss.  If it thinks you owe Nebraska that much then it has told Nebraska that some of the money you earned was taxable there.

     

    @avaccaro 

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