Rental income and state taxes

Forum|Forum|3 years ago
March 19, 2023
1 reply
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My resident state is Washington. I have rental properties in Utah and I am a limited partner for rentals in Ohio. My rentals in Utah have a net positive gain while my property in Ohio has a big loss. When filing my Federal taxes the losses offset my gains and it becomes zero gain for rentals. When filing my Utah State taxes do I have to put in the positive value from my Utah units or can I take my federal number and enter zero?

RobertB4444

Utah is entitled to a cut from earnings from Utah sources. Unfortunately, in this case, that is a positive amount and you owe Utah taxes on this. You may want to file an Ohio return as well in order o preserve the loss for carryforward there. Then, when filing your Washington return, you will take a credit for taxes paid to other states for the amount paid to Utah. Make sure to do the non-resident state returns first before doing your resident state return.

@rickchungsiu

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