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capital gain to non resident state

wwjd
Level 2

I have a MD resident client who sold  company stock share which was located in GA.

Do I have to file GA nonresident tax return for the capital gain? or file it as MD income?

 

 

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Accepted Solutions
qbteachmt
Level 15

It will matter if the stock was part of their compensation for working at or for that GA company, or is that a regular market-type investment?

Here are a couple of references:

https://www.financialplanningassociation.org/learning/publications/journal/OCT22-state-income-taxati...

https://ttlc.intuit.com/community/taxes/discussion/ga-rsus-taxation-if-granted-during-in-ga-and-taxp...

 

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"Level Up" is a gaming function, not a real life function.

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2 Comments 2
dsocpa
Level 7

My understanding is that passive income is attributed to the shareholder's resident state.

qbteachmt
Level 15

It will matter if the stock was part of their compensation for working at or for that GA company, or is that a regular market-type investment?

Here are a couple of references:

https://www.financialplanningassociation.org/learning/publications/journal/OCT22-state-income-taxati...

https://ttlc.intuit.com/community/taxes/discussion/ga-rsus-taxation-if-granted-during-in-ga-and-taxp...

 

*******************************
"Level Up" is a gaming function, not a real life function.