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Updated about 4 years ago,
out of state rental taxes
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.