Client lives in Louisiana but has a rental house in Tennessee. The house sold in 2020 and the income from the sale is flowing from the 1040 into Louisiana. Is that correct? Should the sale be excluded from the Louisiana tax return?
Solved! Go to Solution.
No state income tax in Tennessee on this type of transaction. And 2020 is the last year for the Hall Income Tax, which taxes certain non-bank type commercial paper interest, and flow thru earnings of Mutual funds, and certain other dividends.