Home
Tax Articles
Tax FAQ
Introducing Our Firm
Our Services
Real Estate Taxletter
Need Help?
Other Websites
Site Map

Find us on Facebook
Follow me on Twitter
Connect on LinkedIn
Connect on Google+

Do I have to file a tax return for my California rental property?

April 19, 2004


Subject:  Rental Property
From:  Cindy
Date:  Tue, 23 Mar 2004

Hi Michael,

I live in Illinois and my mother died, leaving me some rental property in California. I made a profit of $4,000 last year. Do I have to file a tax return for California? How do I do it? Where do we get the forms?

Thank you,
Cindy

Answer

Date:  Fri, 2 Apr 2004

Hello Cindy,

You are required to file Form 540NR. You can find the forms at www.ftb.ca.gov. When income is taxable in two states, you get a state tax credit, usually on the income tax return for your resident state. Consider getting help with your income tax returns for this issue.

Good luck!
Mike Gray

We have more answers to frequently asked real estate tax questions! We also offer up-to-date information about new tax real estate tax developments in Michael Gray, CPA's Real Estate Tax Letter.

IRS Circular 230 Disclosure: As required by U.S. Treasury Regulations, you are hereby advised that any written tax advice contained on this website was not written or intended to be used (and cannot be used) by any taxpayer for the purpose of avoiding penalties that may be imposed under the U.S. Internal Revenue Code.

Do I have to file a tax return for my California rental property?

Home | Real Estate Taxletter | Articles | FAQ | Introducing Michael Gray, CPA | Need Help? | Other Links


Michael Gray, CPA
2190 Stokes St., Suite 102
San Jose, California 95128-4512
(408) 918-3162
Fax (408) 998-2766
email: mgray@taxtrimmers.com
© 2016
Subscribe to
Michael Gray, CPA's
Real Estate Tax Letter
!

subscribe
unsubscribe