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    #1

    State of Texas Question

    Client, in 2008, sold a rent house in the State of Texas. She does not live in Texas. My All States book does not have a section for Texas.

    Am I correct in assuming that she will not owe any taxes for the profit, to the State of Texas?

    Also, can anyone tell me about the Nehemia Program? There was a deduction for this on the settlement statement and I need to determine if it is an expense of sale.

    Thanks,
    LT
    Last edited by thomtax; 02-23-2009, 06:48 PM. Reason: additional
    Only in government or politics is a "cut in spending" really an increase. It's just not as much of an increase as they wanted it to be, therefore a "cut".
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    #2
    Lucky Texas

    We have no state income tax for individuals.
    Jiggers, EA

    Comment

      #3
      Originally posted by Jiggers View Post
      We have no state income tax for individuals.
      But boy do you get even with the real estate taxes.

      LT
      Only in government or politics is a "cut in spending" really an increase. It's just not as much of an increase as they wanted it to be, therefore a "cut".

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