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out of state rental income state reporting
I'm a MD resident and have rental income in Philadelphia, do I need to file and pay PA state income tax and get refund for the PA tax from MD state tax?
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Bill B.
#3 1031 Exchanges Contributor
#3 1031 Exchanges Contributor
- Investor
- Las Vegas, NV
It’s good news if you have more income than expenses and depreciation combined. Only one of my properties is in a state with income tax so I kept doing cash out refis there to keep the interest higher there than in Nevada with no income tax. After depreciation I’ve been able to avoid MN state income taxes.