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I live in IL. I sold rental farmland in MO. Do I include this income in a MO return? Do I include this income on my IL return?

Forum|Forum|7 years ago
June 5, 2019
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TurboTax Home & Biz Windows

Best answer by MichaelL1

This is what you will need to do:

File Federal return as normally reporting all income

File a non-resident MO reporting only the MO income, (farm sale)

Then last file a resident IL return, reporting all income (including that sale of the MO farmland) and then you get a credit on the IL return for the MO taxes paid on the sale.

Do it in this order, so the TurboTax can compute the correct credit on the IL return for the MO taxes.

MichaelL1Answer

Employee

This is what you will need to do:

File Federal return as normally reporting all income

File a non-resident MO reporting only the MO income, (farm sale)

Then last file a resident IL return, reporting all income (including that sale of the MO farmland) and then you get a credit on the IL return for the MO taxes paid on the sale.

Do it in this order, so the TurboTax can compute the correct credit on the IL return for the MO taxes.