What are the rules when claiming income from a rental property in a different state?
My wife recently graduated from Medical School in CA and accepted a residency in UT. We cannot sell the house in CA because we owe nearly 200k dollars more then it is currently worth. Luckily we have found someone to rent the property. We are being told that we cannot claim income from the rental propery because it is in a different state. Has anyone ever heard of this? It is making it impossible to qualify for a house in UT.
Answers (1)
FIRST ANSWER
I wonder if this is some regulation peculiar to Utah. it certainly isn't a problem here in California.
Dorothy Erickson
http://daerickson.com
Web Reference: http://daerickson.com
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