RENTAL INCOME

[HOPE2]

Hi to all,

Client was 01/01/2024 - 09/24/2024 in CA and from 09/25/2024 -----12/31/2024 in VA

she has a rental income in CA and rented from 11/01/2024-----12/31/2024 when she was in VA

In PY allocation the net/loss of rental income should allocated amount enter for VA or CA, however source state is CA?

Thanks for help

[Just-Lisa-Now-]

The CA loss is allocated to CA. in the part year worksheet.

[BobKamman]

The loss is not PY for CA, it's NR.  I think both can be reported on the same return.  Is it allowed, or is the income too high so that it must be carried over?  (You'll be filing CA returns as long as she keeps renting the property.)  It is a PY loss on the VA return, so it's reported there also.  You may have to make some adjustments to get it on both returns.  

[Just-Lisa-Now-]

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@BobKamman wrote:

The loss is not PY for CA, it's NR.  I think both can be reported on the same return.  Is it allowed, or is the income too high so that it must be carried over?  (You'll be filing CA returns as long as she keeps renting the property.)  It is a PY loss on the VA return, so it's reported there also.  You may have to make some adjustments to get it on both returns.  

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If the moved from one state to the other, its part/year  part/year on the state allocation worksheet at the bottom of the fed info worksheet..    Moving forward it will be resident/non-resident  Both PY and NR use the 540NR for filing.