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historian Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-11-08 12:31 AM
Original message
TAX HELP PLEASE
Does anyone know if a person who lives in california but owns property in texas which does not produce income has to file in texas also? thanks
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rwenos Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-11-08 12:32 AM
Response to Original message
1. If You Mean Real Property
you're being a fool if you don't ask a tax professional.
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Suich Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-11-08 12:36 AM
Response to Original message
2. LOL!
I got the same response when I asked a tax question once!

Good luck!
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BOHICA06 Donating Member (886 posts) Send PM | Profile | Ignore Fri Apr-11-08 12:41 AM
Response to Original message
3. Texas has no income tax and
Edited on Fri Apr-11-08 12:44 AM by BOHICA06
therefore no need to "file". Of course there will be a property tax bill at some point in the year that you will have to pay.

See this link: http://www.essortment.com/career/newcomersguide_tvwd.ht...
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Tezcat Donating Member (11 posts) Send PM | Profile | Ignore Fri Apr-11-08 03:47 AM
Response to Reply #3
4. Yeah
Absolutely. You should definitely check it out fully
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DemocratInSoCal Donating Member (402 posts) Send PM | Profile | Ignore Fri Apr-11-08 03:57 AM
Response to Original message
5. I'm A CPA, And No
Just because you own property, does not require you to file an out of state Income Tax Return. If you receive income from that property, you must report that on the Federal return, and you may be able to deduct certain expenses on the property, if you Itemize.
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