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ShawnA
ShawnA, CPA, Professor, CFP. CGMA, Business Consultant, Professor, PFS I have decades of experience answering these questions.
Category: Tax
Satisfied Customers: 2884
Experience:  CPA, Professor, CFP. CGMA, Business Consultant, Professor, PFS I have decades of experience answering these questions.
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What determines where you must file state taxes. I have propery

Customer Question

What determines where you must file state taxes. I have propery in and have lived in 3 states this year. Obviously, I do not want to pay taxes in 3 states. Just fyi, I was hiding the fact that I was living with someone else in a different state last year.
Submitted: 4 years ago.
Category: Tax
Expert:  R. Klein, EA replied 4 years ago.

Randalltax :

You must pay state income tax to each state you earn money from (source income) AND the state in which you live.

Randalltax :

In order to avoid double-state taxation on the same money, each resident state gives you a credit for taxes paid to a non-resident state.

Randalltax :

If you live in MA, but work in CT, then you pay state income tax to CT on your wages. You then file as a resident of MA and calculate the tax there, but get a tax credit for taxes paid to CT.

Randalltax :

If you own property in CO, for example, the same concept applies.

Randalltax :

Of course, if any of those states is one of the no-state income tax states, then there is no tax to that state. New Hampshire is the only East Coast state without income tax.

Randalltax :

Florida also has no state tax

Randalltax :

Pittsburgh is not a state, this week.

Randalltax :

Pennsylvania does have a state tax.

Customer:

It may be more complicated than that, I lived equally in the states of Boston, Pittsburgh and Fort Myers. I earned the money in Boston, but the check was depostied in Pittsburgh......

Expert:  ShawnA replied 4 years ago.

Hello. My specialty is focusing on YOUR Financial needs. Financial Planner/Business Owner for 20 years. CPA,PFS,QFP,GMMA.

 

Boston is where you pay the taxes on those dollars. Choose MA as your main state of residence.

 

Despite living in the other states if you earned no income there you were "just visiting" and don't have to file.

 

 

If this does not answer your question please let me know. Also let me know if you have additional questions. If you understand my answer and have no more questions, please ACCEPT and please leave positive feedback (if so inclined). Thank you.

ShawnA, CPA, Professor, CFP. CGMA, Business Consultant, Professor, PFS I have decades of experience answering these questions.
Category: Tax
Satisfied Customers: 2884
Experience: CPA, Professor, CFP. CGMA, Business Consultant, Professor, PFS I have decades of experience answering these questions.
ShawnA and other Tax Specialists are ready to help you
Customer: replied 4 years ago.
I have carry forward capital losses of $400k. I wonder if there is any strategy I can employ to take advantage of this. Something safe and at least quasi legal?
Expert:  ShawnA replied 4 years ago.
You can use this to OFFSET gains. Unfortunately thats about it.
ShawnA, CPA, Professor, CFP. CGMA, Business Consultant, Professor, PFS I have decades of experience answering these questions.
Category: Tax
Satisfied Customers: 2884
Experience: CPA, Professor, CFP. CGMA, Business Consultant, Professor, PFS I have decades of experience answering these questions.
ShawnA and other Tax Specialists are ready to help you