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95
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Ken Cooper
  • Investor
  • Redondo Beach, CA
21
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95
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Out of state taxes

Ken Cooper
  • Investor
  • Redondo Beach, CA
Posted

I live in California, and am closing on my first rental property this Friday.  The property is in Indiana.  My question is will I need to file a tax return for the state of Indiana?

Ken Cooper

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Steven Hamilton II
  • Accountant, Enrolled Agent
  • Grayslake, IL
2,325
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Steven Hamilton II
  • Accountant, Enrolled Agent
  • Grayslake, IL
Replied
Originally posted by @Ken Cooper:

I live in California, and am closing on my first rental property this Friday.  The property is in Indiana.  My question is will I need to file a tax return for the state of Indiana?

Ken Cooper

 Ken,

You will pay to Indiana, and you will receive a credit on your CA return.  I recommend filing EVERY state even if you do not owe them money. It starts a statute of limitations and keeps them from coming after you. 

  • Steven Hamilton II
  • [email protected]
  • (224) 381-2660
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