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March 19, 2025
Question

Reporting Rental income for Non resident state

  • March 19, 2025
  • 1 reply
  • 0 views

We have rental property in CA (resident) with large net loss and in NC (non resident) with small net gain.

Turbo tax populate NC return with zero rental income (even though we has small gain for NC property).  Is this correct? If not which value should be manually entered for NC rental income - gross rental income or net ?

 

 

1 reply

March 20, 2025

North Carolina allows you to net any non-NC rental losses against NC rental income (but you cannot create additional loss from non-NC property) for nonresident taxes.

March 20, 2025

Thank you for the fast and thorough  response! -very helpful!