State Tax On Rental Property In Florida, Live In Md

[Patric]

s About Taxes)/State tax on Rental Property in Florida, live in MD Advertisement Expert: MEdusa - 2/18/2011 I live in Maryland.  I am planning to buy and rent property in Florida.  Will I need to claim my profits on a Florida state tax form or only file a form for the State of Maryland?

[felding10]

you will pay resident tax in your home state on your global income(including florida)

as the property is located in florida you will file florida returns(no income, but other reporting requirements) and then if you sell at a gain. later - pay in your home jurisdiction too.  

see section of maryland instructions for credit paid to out of state.  (even though you likely wont pay tax in florida, your resident state will still tax the florida income!)