I sold some property in SC, along with several family members. I received just over 18,000 dollars. Do i need to file state or federal tax?

Forum|Forum|6 years ago
January 29, 2020
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Best answer by klehnhardt

Yes, you will be required to include the sale of the property on your Federal return and you would also be required to file a South Carolina return as a nonresident and report the sale.

Per the South Carolina department of revenue, on the nonresident return CAPITAL GAIN OR (LOSS) AND OTHER GAINS OR (LOSSES) must be reported on SCHEDULE NR.

On your federal return to enter the sale of the property:

Locate the Search Magnifying Glass in the upper right hand corner of the screen
Enter Capital Gains in the search box
Answer the questions related to the sale of property.

klehnhardtAnswer

Level 10

Yes, you will be required to include the sale of the property on your Federal return and you would also be required to file a South Carolina return as a nonresident and report the sale.

Per the South Carolina department of revenue, on the nonresident return CAPITAL GAIN OR (LOSS) AND OTHER GAINS OR (LOSSES) must be reported on SCHEDULE NR.

On your federal return to enter the sale of the property:

Locate the Search Magnifying Glass in the upper right hand corner of the screen
Enter Capital Gains in the search box
Answer the questions related to the sale of property.