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Updated about 7 years ago on .

User Stats

14
Posts
19
Votes
Chris Stratton
  • Fort Myers, FL
19
Votes |
14
Posts

Mitigating tax exposure - out of state mortgage notes

Chris Stratton
  • Fort Myers, FL
Posted

Hello Bigger Pocket's people. A local agent suggested this forum and I can see it is a wonderful community. Thanks for letting me participate.

We moved to SWFlorida over a year ago from PA. There, prior to moving, we have sold two properties and taken back mortgage notes (10 year balloons) @  4.5-4.75%.  I find it annoying that we have to file a PA tax return on the income.  Is this one of those things where I should just live with the cost/bother of keeping a PA tax preparer, or is there some legitimate way to sensibly change the situation?