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Updated 9 days ago on .
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Ohio State Tax Filing - Netting Rental Income and Losses Across States
My federal tax return worksheet shows a net passive loss from investments rental properties. This is because the net loss on my NY properties (where I reside) override the net rental income on my Maple Heights properties in Ohio. I therefore report zero rental income on the federal return because I am not a real estate professional and do not deduct the net loss. But Am I permitted to net my NY rental loss against the net gain on my Ohio properties on the Ohio state return?? H&R Block tax program seems to think I can because the starting point is the Federal return when allocating income to Ohio. My federal rental income is zero and therefore nothing to allocate to Ohio. Obviously I still intend to file an Ohio state return even though there is tax owed,
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I can introduce you to my go to CPA who can help if you'd like.
- Marc Rice
- [email protected]
- 614-363-2787