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ljjgrant
Level 1

Exclude capital gain in S corp stock sale in MA return

Sold shares in an SCorp in state (MN) where I am not a resident. How can I exclude the capital gain in state (MA) where I am a resident so that I won't be taxed twice for the same gain in two states?

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Accepted Solutions
Critter-3
Level 15

Exclude capital gain in S corp stock sale in MA return

You do NOT exclude the gain in your resident state ... if you completed the non resident state return first then the resident state will give you a credit for the taxes paid in the other state.   

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2 Replies
Critter-3
Level 15

Exclude capital gain in S corp stock sale in MA return

You do NOT exclude the gain in your resident state ... if you completed the non resident state return first then the resident state will give you a credit for the taxes paid in the other state.   

ljjgrant
Level 1

Exclude capital gain in S corp stock sale in MA return

Thank you

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