Got a question for those who own rental property in CA and live in other income tax free state(like texas)
Do you have to pay tax in CA for your rental income for CA? if you do, is that the same tax rate(income bracket?)
Yes, you need to pay state income tax to CA for the income = gross rental less gross expenses regardless of whether you have net profit at federal level. Yes, use CA state income tax schedule.
@dioworld Welcome back!
Did you move?
I was waiting for restrictions to lift for move. but unfortunately, instead of easing, things got even more restricted and so far there’s no end in sight.
What restrictions are stopping from moving out of state?
out of country, Before it’s 21 day hotel quarantine, with a baby and a hundred pound dog, that’s pretty impossible, now added vaccination(don’t f me, i have my own reason, and I know the number is 100% way way way way way under report especially outside of US)
Oh wow, out of country. Okay, I see.
Why not sell? Why deal with rental from another country?
For now will be another state. Currently there’s too many uncertainty.