Forum Discussion
sdianel_-acct_c
Jun 05, 2014Explorer
1. There is no Florida State Tax. I am not a tax person so:
From Turbotax: Renting property in the state you leave
Even if you establish permanent residency in the new state, if you rent out your house in your old state, you will most likely have to file an income tax return in your old state to report your income and expenses.
If you make a net profit renting your house, you will most likely have to report your rental income and expenses on both your old state and your new state income tax returns. However, your new state will most likely allow you a credit for the taxes you pay to your old state because of the rental property income.
Even if you have a loss on the rental and might not have to file a return in your old state, consider filing a return anyway so that you can establish with your old state that the rental property produced a taxable loss. This might come in handy if you want to carry that loss over to offset some rental income taxable by your old state in the future.
2. Same as Number 1.
3. If you establish residency in Florida you will have to have a Florida driver's license to register vehicles and buy insurance on those vehicles. http://www.flhsmv.gov/ddl/dlclass.html
4. No requirement for special license in Florida to operate a recreational vehicle for recreational purposes. Regular license ok. http://www.flhsmv.gov/dhsmvfees.htm
From Turbotax: Renting property in the state you leave
Even if you establish permanent residency in the new state, if you rent out your house in your old state, you will most likely have to file an income tax return in your old state to report your income and expenses.
If you make a net profit renting your house, you will most likely have to report your rental income and expenses on both your old state and your new state income tax returns. However, your new state will most likely allow you a credit for the taxes you pay to your old state because of the rental property income.
Even if you have a loss on the rental and might not have to file a return in your old state, consider filing a return anyway so that you can establish with your old state that the rental property produced a taxable loss. This might come in handy if you want to carry that loss over to offset some rental income taxable by your old state in the future.
2. Same as Number 1.
3. If you establish residency in Florida you will have to have a Florida driver's license to register vehicles and buy insurance on those vehicles. http://www.flhsmv.gov/ddl/dlclass.html
4. No requirement for special license in Florida to operate a recreational vehicle for recreational purposes. Regular license ok. http://www.flhsmv.gov/dhsmvfees.htm
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