New OOS Investor Need Tax Help

[Andrew B.]

Hey BP!  I'm working toward an out of state investment property purchase within the next 2-3 months.  My question is how do I avoid double taxation on income earned from out of state properties?  Any assistance is appreciated.

[Ashish Acharya]

Originally posted by @Andrew B.:

Hey BP!  I'm working toward an out of state investment property purchase within the next 2-3 months.  My question is how do I avoid double taxation on income earned from out of state properties?  Any assistance is appreciated.

Generally, you will not pay taxes twice on the same income. States will give you credit for the tax already paid two other state. Tax return needs to be done correctly to make sure it’s not double taxed. We see incoming tax double all the times when it is not prepared correctly.