Message Font: Serif | Sans-Serif
No. of Recommendations: 1
I'm not sure if I need to file a Michigan tax return for 2008 or 2009 since she had no net Michigan income. For 2010, there is still no net Michigan income since the property sold at a loss.

Sorry, I know nothing about Michigan. I do wonder how you're calculating this loss since the starting point would be FMV when it was converted to rental, not her cost, which I assume was greater. Tack on depreciation while it was a rental and I have to wonder whether it declined enough in value during the rental to create a bottom line tax loss on the sale.

Rule Your Retirement Home Fool
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.