Question

Which state to enter farm rental income.

Forum|Forum|2 years ago
February 28, 2024
1 reply
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I permanently reside in one state but own farmland in another state. To which state do I file income tax for the rental income on that farmland?

SharonD007

It depends on what state you live in and what state your farm is in. Please clarify and provide more information.

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T

tax2xatAuthor

I live in CA full year and the farmland is in CO. I rent out the vacant farmland for a share of the crop. This year I had more expenses than income. Do I file CO tax, whether I have gain or loss?

M

Mike9241

you file in both states (CO as a nonresident). only the rental income is reported for CO. As a resident of CA, your also taxed on that income but receive full or partial credit for the income taxes on the rental owed or paid to CO for 2023