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If I worked the entire year in Arkansas and worked nowhere

else as an employee, but...
If I worked the entire year in Arkansas and worked nowhere else as an employee, but had my residence in Oklahoma and had self employment losses on a sole proprietorship in Oklahoma, how do I handle the state income tax question? I was unable to find out if Arkansas and Oklahoma had a reciprocal agreement related income tax filings. I also had my mother and a younger brother as dependents at my residence in Oklahoma. And, I have significant (around 18,000.00) receipts for paying for temporary housing (motel rooms, etc) in Arkansas for parts of the job. I had 112,000 in income, with 12000 of that being non taxable per diem and 12500 being taxable per diem (my per diem became taxable just before the middle of the year). The job was always open ended and I never knew how long I was going to be there, so the per diem was not taxed before one year on the job. I had a small business that I invested about 34,000 in getting started this year as well in Oklahoma and have made just over 2,000 in sales from (just opened the doors). Can I claim the 32000 off of my other income as a business loss? And, if so, how will that work with the multi state issue (ie if I am not filing as a nonresident in Arkansas, will I be able to take the Oklahoma business loss off of the Arkansas state income tax liability?). My employer did not take nearly enough out of my income tax, even though I was filing as single and 1 to cover my liability if I cannot claim some of these deductions and I just got laid off and am really worried about what I'm going to do to. Because of my small business, I don't qualify for unemployement, I'm told (even though I am available to work and only do the business via the computer in my own time). Thank you.
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Answered in 29 minutes by:
1/1/2010
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 30,133
Experience: Taxes, Immigration, Labor Relations
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There is no reciprocal agreements between Arkansas and Oklahoma.

If you are a resident of Oklahoma and worked in Arkansas as non-resident - only income from Arkansas sources would be taxable for that state.

On your Oklahoma tax return - which you will file as a resident - you will claim a credit for taxes paid to another state (Arkansas in your situation).

 

Because you had a loss from your self-employment activities - that losses will reduce your taxable income.

 

You may claim a deduction for unreimbursed employee business expenses using Form 2106 or Form 2106-EZ and on Form 1040, Schedule A .

 

Travel expenses paid or incurred in connection with a temporary work assignment away from home are deductible. However, travel expenses paid in connection with an indefinite work assignment are not deductible. Any work assignment in excess of one year is considered indefinite. Also, you may not deduct travel expenses at a work location if it is realistically expected that you will work there for more than one year, whether or not you actually work there that long. If you realistically expect to work at a temporary location for less than one year, and the expectation changes so that at some point you realistically expect to work there for more than one year, travel expenses become nondeductible when your expectation changes.

 

For more information on travel expenses, refer to Publication 463, Travel, Entertainment, Gift and Car Expenses.

Let me know if you need any help with reporting.

Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 30,133
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Customer reply replied 7 years ago
Thanks. Not exactly what I'd hoped to hear, but that's life I suppose; at least I know.
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Lev
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