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Out of state investor tax filing question
Hello all! I own a duplex in the city of Cleveland and would like to know if I need to file a tax return with the City as well as the state. I viewed the website and found a form that appears to be for rental income but it looks like it is for residents (or maybe both?). I am not looking for tax or legal advice, just want to ensure I am filing the correct form.
Thanks!
Most Popular Reply
Originally posted by @Sunny D.:
does this apply even if reported net loss in my federal filing after accounting for mortgage interest, depreciation and expenses for maintainence and when acquiring the property
i didnt file a city of cleveland return nor state as there was no net income
Yes, you still need to file.
City of Cleveland taxes are collected by the CCA (one of two contractor organizations that deal with municipal tax in Ohio, and definitely the nastier of the two.) According to the CCA rules and regulations for the city of Cleveland:
5:01.I "Any person receiving rental income from any property must file a return whether or not there is any tax due."
Disclaimer: I am a tax professional, but I'm not your tax professional and don't know all the details of your situation. Just giving some solid general information here.