Question

CA Resident with Real Estate holding in other states not having an option in TurboTax to indicate other state ownership.

Forum|Forum|4 years ago
April 11, 2022
1 reply
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I live in CA and have real estate holdings in Colorado. When preparing CA state taxes, I am not getting an option to exclude the non-CA income (earned in CO) from my CA income. Is there a way to specify income earned and taxed in other states in Turbo Tax Home and Business 2021?

TurboTax Home & Biz Windows

R

rbhavansAuthor

California State Income Tax is due on ALL income, irrespective of where it is earned. So, any earnings and profits on Colorado Real Estate operations and sales are still taxed in CA. However, the CA taxes are reduced by the exact amount of taxes paid to the state of CO. So, in effect, I pay CA tax rates even on CO real estate earnings and profits.