Question
Gain on FL rental property sale. Do I need to report gain on Virginia?
I sold my FL rental property which resulted on a gain of 57K. I am VA resident for the whole year.
I reported the gain on Federal, but the total income including FL gain is automatically included in VA income.
Questions
1. Should the income be reported on VA state refund? (Which I don't think would be right)
2. If FL gain income should not be included in VA, how do I remove it from the return. I tried several ways, but I could not, is overriding the income amount to exclude the 57K gain in VA760 form the best way ?
Please advise. Thanks,
