Question

Sgt Bryan Antler has a California domicile and was stationed in New Jersey for the entire...

Sgt Bryan Antler has a California domicile and was stationed in New Jersey for the entire year of 2016. In 2016 he had rental income of $17,000 (with $7,000 in expenses) from a California rental property and $30,000 from military income earned while stationed in New Jersey. Does he have to pay tax on the rental income and if so, how is it reported?

No, because he can subtract his military wages in Column B of Schedule Ca(540NR) thereby falling below the California filing threshold.

California will not tax rental property owned by a military servicemember, it does not have to be reported.

Because Bryan is stationed outside Califoriia, he is not required to ifile a California return.

Bryan does not subtract his military wages in Column B Schedule Ca(540NR) and pays taxs on the net rental income

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Corporal Jane Josephson is domiciled in California and stationed all year in California. In 2016, she...
Corporal Jane Josephson is domiciled in California and stationed all year in California. In 2016, she had $60,000 in military pay and $2,000 in oil and gas royalties from Oklahoma. She paid tax to Oklahoma on the royalties. What tax forms does she file in California? Form 540NR wth Schedule S none Form 540 with Schedule S Schedule Ca(540) and Schedule S only
An active duty military service member's state of legal residence (domicile) is California, but he was...
An active duty military service member's state of legal residence (domicile) is California, but he was stationed outside the state on permanent change of station orders for the entire tax year. His income was: $39,000 military pay, $200 interest (savings account in a California credit union), and $1,000 capital gain on the sale of stock. Which of the following statements is correct? A. He must file a California resident return; his taxable income under California law is $39,000. B. He...
Taxpayer Information Name: Bryan Jones Address: 1200 Main St. Green Bay, Wisconsin 12345 DOB: 5/6/1976 Filing...
Taxpayer Information Name: Bryan Jones Address: 1200 Main St. Green Bay, Wisconsin 12345 DOB: 5/6/1976 Filing Status: Single SSN: 500-10-2000 Occupation: Staff Accountant INCOME INFORMATION: Wages and Compensation The following information is taken from Bryan Jone’s 2017 Form W-2 Wage and Tax Statement: Box 1 – Wages, tips, and other compensation 52,000 Box 2 – Federal Withholding 8,750 Box 17 – State Income Tax Withholding 1,000 Interest and Dividends Bryan has some Certificates of Deposits are Main Street bank which...
-Jason is a California resident who lives and works as a computer consultant in Walnut Creek....
-Jason is a California resident who lives and works as a computer consultant in Walnut Creek. He earned $75,000 while working for XYZ LTD in 2016. Jason additionally had a contract job from ABC Co. based in Washington. His contract earnings totaled $17,000 in 2016 and will total $15,000 in 2017. On what income amount will Jason be taxed in 2016? a) $75,000 b) $83,500 c) $90,000 d) $92,000 -Joe and Kathy are married and domiciled in California. Joe works...
On June 5, 2016, Javier Sanchez purchased and placed in service a new 7-year class asset...
On June 5, 2016, Javier Sanchez purchased and placed in service a new 7-year class asset costing $550,000 for use in his landscaping business, which he operates as a single member LLC (Sanchez Landscaping LLC). During 2016, his business generated a net income of $945,780 before any § 179 immediate expense election. Determine the maximum deductions (including first year additional depreciation) that Javier Sanchez can claim with respect to this asset in 2016 and 2017. If required round your intermediate...
Read the case on which your Portfolio Project is based. Determine all items that will be...
Read the case on which your Portfolio Project is based. Determine all items that will be deducted before the AGI calculation. In a MS Excel spreadsheet, list all deductible items in column A. In column B, determine where that deduction should appear on Form 1040 (for tax year 2017). Review the Portfolio Project Milestone Rubric in the Module 4 Materials folder to understand how you will be graded on the project. You must address instructor feedback when submitting your complete...
Beth R. Jordan lives at 2322 Skyview Road, Mesa, AZ 85201. She is a tax accountant...
Beth R. Jordan lives at 2322 Skyview Road, Mesa, AZ 85201. She is a tax accountant with Mesa Manufacturing Company, 1203 Western Avenue, Mesa, AZ 85201 (employer identification number 11-1111111). She also writes computer software programs for tax practitioners and has a part-time tax practice. Beth is single and has no dependents. Beth was born on July 4, 1972, and her Social Security number is 123-45-6789. She wants to contribute $3 to the Presidential Election Campaign Fund. The following information...
1. Liam, an international student from Ireland, has a Form W-2 that shows amounts withheld for...
1. Liam, an international student from Ireland, has a Form W-2 that shows amounts withheld for Social Security and Medicare taxes. Laim is an F-1 nonresident alien for tax purposes. Which form should he file to receive a refund of these taxes once attempts to obtain a refund through his employer have failed? a. Form 843 b. Form 8233 c. Form 8880 d. Form 8962 2. Carlos and Sophia are from Mexico. Carlos is a scholar at a local university...
Beth R. Jordan lives at 2322 Skyview Road, Mesa, AZ 85201. She is a tax accountant...
Beth R. Jordan lives at 2322 Skyview Road, Mesa, AZ 85201. She is a tax accountant with Mesa Manufacturing Company, 1203 Western Avenue, Mesa, AZ 85201 (employer identification number 11-1111111). She also writes computer software programs for tax practitioners and has a part-time tax practice. Beth is single and has no dependents. Beth was born on July 4, 1972, and her Social Security number is 123-45-6789. She wants to contribute $3 to the Presidential Election Campaign Fund. The following information...
Which of the following types of income is passive income? a. Net rental income from real...
Which of the following types of income is passive income? a. Net rental income from real estate limited partnership investments b. Dividends from domestic corporations c. Wages d. Interest income from certificates of deposit e. None of the above Which of the following is classified as active income? a. Self-employment income from a small business b. Interest income c. Limited partnership income d. Dividend income from a mutual fund e. a. and d. Nancy has active modified adjusted gross income...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT