Question

Out-of-State Income or Gain amount in state tax

Forum|Forum|5 years ago
March 25, 2021
1 reply
0 views

What is the amount to put in the box for Out-of-State Income or Gain for a out of state rental. Net, gross or some other amount?

TurboTax Online

Hal_Al

Employee

Simple answer: Net.

You don't say what state. But, usually the allocation screen shows you the total income, by category, to be allocated. Then asks you to enter the amount for that state. For rental income, it's usually the same amount as in the total box. It cannot be more than the amount in the total box.

M

mikkcharAuthor

I live in SC and the rental is in PA. the SC state tax requires to list the income for the rental. Is the value to enter what is listed under the summery under income?

Hal_Al

Employee

The amount you enter comes from line 21 of Schedule E, for that rental. It that is your only rental, it will be the same as line 26 and line 5 of Schedule 1