I am preparing a Louisiana nonresident individual income tax return for a client who owns income-producing real estate located in Texas. The client’s federal adjusted gross income exceeds the threshold for deducting the passive real estate loss, resulting in a federally disallowed loss.
On the Louisiana nonresident allocation worksheet, Line 7, entering zero in the Louisiana column causes the entry to flag as an error. Please confirm whether zero is the correct Louisiana allocation for this line under these circumstances.
LA nonresident with income producing property in TX, what state are they a resident of?
The ProSeries instructions say it is not an error even if it is displayed red. Red sometimes means an unusual data entry.
The client is a resident of Texas.
You have clicked a link to a site outside of the Intuit Accountants Community. By clicking "Continue", you will leave the community and be taken to that site instead.