 Out of State Income (by OKHMBLDR [OK]) Jan 24, 2017 6:22 AM
 Out of State Income (by S i d [MO]) Jan 24, 2017 6:27 AM
Out of State Income (by katherine [NC]) Jan 24, 2017 6:51 AM
Out of State Income (by razorback_tim [AR]) Jan 24, 2017 7:41 AM
Out of State Income (by RathdrumGal [ID]) Jan 24, 2017 7:50 AM
Out of State Income (by LisaFL [FL]) Jan 24, 2017 10:08 AM
Out of State Income (by OKHMBLDR [OK]) Posted on: Jan 24, 2017 6:22 AM
Message:
State Specific Question About: OKLAHOMA (OK)
My Mom has a farm in Idaho. She has owned it since 1954 and it's been rented to a farmer all these years.
My brother had been handling Mom's taxes for the past several years, and since his passing I am now delegated the task of doing Mom's taxes.
She has live in Oklahoma most of her life, collecting her rental income from the Idaho farm. She never lived on this farm or in the state of Idaho.
My question; does she pay income tax on the Idaho farm income to the state of Idaho or Oklahoma?
Thanks for your input. --68.12.xxx.xxx |
Out of State Income (by S i d [MO]) Posted on: Jan 24, 2017 6:27 AM
Message:
I believe state residency can be elected, so I would start with checking where she has been filing since 1954. However, since I am not a tax expert I think it's time to hire a competent CPA. If she's been doing it wrong all these years you need to know today.
Side note: when I enlisted in the Army, during boot camp one of the things we had to do was "choose" which state our residency was for tax purposes. There were encouragements passed around for TX or TN since neither had a state income tax. I've never lived in either state for even an overnight in a hotel, much less established permanent residency. --173.19.xx.xxx |
Out of State Income (by katherine [NC]) Posted on: Jan 24, 2017 6:51 AM
Message:
I sold some land in another state. I had to file a tax return and pay tax to the other state on the income from that sale (because that income was generated in the other state). I was able to apply for a credit against my home state taxes for the tax paid to the state the land was located in.
It was all kind of a pain in the neck -- the other state's income tax form was complicated like none I had ever seen before. --69.34.xxx.xxx |
Out of State Income (by razorback_tim [AR]) Posted on: Jan 24, 2017 7:41 AM
Message:
An accountant or tax preparer can provide more details. The simple explanation is that you file a return in both states, claim the income in both states, but receive a credit in your home state for the income taxes paid to the other state. --166.137.xxx.xxx |
Out of State Income (by RathdrumGal [ID]) Posted on: Jan 24, 2017 7:50 AM
Message:
She will need to pay income tax to Idaho. However, make sure that she is taking all the property tax exemptions for which the agricultural land is entitled. The home will not be eligible for the homeowner's exemption because it is a rental. You can look this up on the appropriate county web site. --98.145.xx.xxx |
Out of State Income (by LisaFL [FL]) Posted on: Jan 24, 2017 10:08 AM
Message:
She would technically be required to file a non-resident Idaho state tax return on income earned in Idaho. Some stars have reciprocal agreements with others whereby you don't have to do this but that may just be for earned income withholding taxes...not sure. --107.72.xxx.xx |
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