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Old 03-06-2004, 08:39 AM
monlaurya
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Question

rental property out of state

What is the name of your state? NY

Hi. I am a resident of NY and own a rental condo at the NJ shore. My rental income was far outweighed by my expenses. Do I have to file a NJ income tax form even though I had absolutely no profit in NJ? I got a 1099-MISC from the NJ real estate company that rents the place for me. Thanks.
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Old 03-07-2004, 01:32 PM
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Join Date: Aug 2003
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YES.

File a NJ Non-resident tax return to report your rental income/loss.

You need to file so they know you had a loss. Otherwise they assume the income was pure profit and they will want money!

Snipes
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