I bought 5 properties in 3 different states....

[Wei Jie Yang]

Hi everyone, question about State tax returns. I live in New York, and have bought properties in Arkansas, Alabama, and Missouri this year. Do I have to file something for each state even though My schedule E will show a paper loss and I have no other business in those states?  How much do CPA's typically charge for this? Would they charge for each state, each property or just one for the entire return? 

I got quoted 2k when I had only two properties but it didn't really itemized what would happen during tax season. 

I also might be attempting to do a flip/BRRRR in Indiana before the year is done. How complicated is a return going to be if done this year as opposed to next?

[Jay Hinrichs]

talk to your accountant this is pretty simple stuff your asking.