Solved
Second Home
We sold our 2nd home in Kansas. We are residents in Arizona.
How do I complete the Arizona form 309 credit for taxes paid to another state.
Thanks
The credit that you get in Arkansas will be limited to the amount of tax that Arkansas would have charged you on that same income. Depending on your income level, Kansas tax rates can be higher than Arkansas tax rates, so you won't have the dollar-for-dollar credit in Arkansas.
@cannmum most all states work like that. Think of it this way.
Let's say KS had a 10% income tax rate and AZ had a 1% tax rate. Why would AZ give you a 10% tax credit when it would have only charged you 1% had the property been in AZ? AZ will only credit you the amount of tax you would have paid had the property been in AZ.
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