State of Texas Question

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  • thomtax
    Senior Member
    • Nov 2006
    • 1276

    #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".
  • Jiggers
    Senior Member
    • Sep 2005
    • 1973

    #2
    Lucky Texas

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

    Comment

    • thomtax
      Senior Member
      • Nov 2006
      • 1276

      #3
      Originally posted by Jiggers
      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".

      Comment

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