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Updated about 4 years ago,

User Stats

5
Posts
3
Votes
Patrick Mullin
  • New to Real Estate
  • Springfield, MO
3
Votes |
5
Posts

out of state rental taxes

Patrick Mullin
  • New to Real Estate
  • Springfield, MO
Posted

Hi all,

Me and a partner finally got an offer accepted on 2 SFH. I'm located in Springfield, MO, and the partner and properties are located in the Biloxi, MS region. Given that I'm out of state, I know that I'll likely need to file MS state taxes. Would it be best for me to hire a local CPA in Missouri, or to get my partner to talk to someone in Mississippi.

Also, if we are splitting equity and rental income 50/50, are deductions and depreciation divided up equally? 

Additionally, if anyone has a recommendation for a real estate CPA in Springfield (or even KC/STL) or in the Biloxi area, that would be appreciated. 

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