All Forum Posts by: Seamus Cronin

My federal tax return worksheet shows a net passive loss from investments rental properties. This is because the net loss on my NY properties (where I reside) override the net rental income on my Maple Heights properties in Ohio.  I therefore report zero rental income on the federal return because I am not a real estate professional and do not deduct the net loss.  But Am I permitted to net my NY rental loss against the net gain on my Ohio properties on the Ohio state return??  H&R Block tax program seems to think I can because the starting point is the Federal return when allocating income to Ohio. My federal rental income is zero and therefore nothing to allocate to Ohio. Obviously I still intend to file an Ohio state return even though there is tax owed,