Mike12321
Level 4
12-07-2019
05:43 AM
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Best Answer Click here
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Level 15
12-07-2019
05:43 AM
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Resident state will most likely tax all income...is this what youre asking?
Or did they sell the house in the non-tax state, then move out of that state?
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
Mike12321
Level 4
12-07-2019
05:43 AM
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Yes they sold the house in the non-tax state - so I was hoping that we could escape tax on the sale, there was unrecaptured 1250 gain.
Level 15
12-07-2019
05:43 AM
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So you're only doing a part year return for the state they moved to, right? That income while in the state without tax shouldn't be taxed in the new state.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
Mike12321
Level 4
12-07-2019
05:43 AM
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Yes!!! Thanks so much for confirming what I thought. --And answering so quickly.
Level 15
12-07-2019
05:43 AM
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Use the part year allocation worksheet at the bottom of the federal information worksheet to allocate the income to the correct states.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
Mike12321
Level 4
12-07-2019
05:43 AM
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Thanks again! I have previously allocated income per months lived in each state for some income, so I believe I can do that again for RR pension, social security etc that doesn't indicate a state on the 1099.