Discussion:Multi stat allocation
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| Revision as of 21:28, 9 October 2009 Southparkcpa (Talk | contribs) (New Discussion) ← Previous diff |
Revision as of 10:52, 10 October 2009 Southparkcpa (Talk | contribs) (I got it.... nee) Next diff → |
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| + | {{ForumReplyPost|UserID=Southparkcpa|Date=10 October 2009|Text=I got it.... needed a good nights rest. | ||
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| + | No apportionment for rental income, clearly calls for allocation and not apportionment for non earned income.}} | ||
Revision as of 10:52, 10 October 2009
Discussion Forum Index --> Advanced Tax Questions --> Multi stat allocation
Discussion Forum Index --> Tax Questions --> Multi stat allocation
Southparkcpa (talk|edits) said: | 9 October 2009 |
| I have a client that rented a building to Starbucks. Starbucks left and paid him 100K in advanced rent (OHIO SOURCE).
He also has an active S corp with a loss in NY (fully deductible with basis)over 100K so the schedule E basically nets to zero... to simplify it for this discussion. My initial recation was that he owes tax in OHIO but as I go through the OHIO return I am not so sure. My gut tells me that the NY active business loss cannot offset the OHIO passive income but the OHIO instructions lead you to believe that is what they expect. The instructions are not clear and it is late on a Friday. Any help would be greatly appreciated. Thanks! | |
Southparkcpa (talk|edits) said: | 10 October 2009 |
| I got it.... needed a good nights rest.
No apportionment for rental income, clearly calls for allocation and not apportionment for non earned income. | |
