Income/loss on out-of-state rental property

[m2m]

Good morning.

Please - some help on below questions and any additional applicable information.
NJ resident owns rental co-op apartment in NYC.
1. Is rental income counted as income on NJ return?
2. If a loss can it be claimed as a loss on NJ return?
3. Rental income requires a NY return?
        a) even though amount ends up not taxable?
        b) how about if it is a loss, instead of income?

Thank you kindly!

[mwcpa]

1.  yes, but the resident may tax a credit related to any NY income tax on the profit from the activity in NY
2.  generally, as a "gross income" tax state, NJ does not allow net losses.  NJ pools baskets of income and nets them, but a net loss in a basket is not deductible and cannot be used to offset other income
3.  yes, it is best to file a NY non resident return to report the retnal activity.  even with a loss.

[m2m]

Thank you very much Mr. MW!  You are the best!  have a great day/weekend.