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Personal Finance (Not Investing) • California Part Year Resident Taxes

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CA has a single tax form for nonresidents and part-year residents. You pay tax to CA on all income earned during your period of residency, and on CA-sourced income earned at any time. Sale of tangible property, such as a home, has a source in the state where the property is located. (In contrast, capital gains from intangible property, such as stock, are taxed only in your state of residence; you do not owe tax to NY if you sell a stock on the New York Stock Exchange.)

If you move to another state with an income tax, you can take a tax credit for the capital gain which is taxed by both states.

Statistics: Posted by grabiner — Fri Apr 19, 2024 6:50 pm — Replies 3 — Views 278



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