What are the benefits of reporting California-source income as a non-resident? I just want to know if there are any advantages of being a resident in Nevada during 2017, before the sell of a home in CA? Does that mean that I'm still responsible for paying both 23.8% plus 13.3% on longterm capital gains?
I moved and worked in Nevada in 2017, 2-3 months prior before the house sole in CA. I filed my taxes in NV, which establishes my residency. Am I suppose to combine both my wage earnings in NV along with the longterm capital gains from the sale of the home in CA?
If so, does the cumulative total include wage income in (NV) and longterm capital gains in (CA)? Which must be $551,000 and over to be taxed at 13.3%?
Longterm Capital Gains from the home was $530,000. And I didn't have any wage income in 2017. I met the requirement for singles and applied the $250,000 exclusion. The gains are under $551,000 and from the 2017 chart income in CA, should be taxed at 11.3% and not 13.3% - correct? Would I also be responsible for the 23.8% based on income bracket of the longterm capital gain at $530,000?
This is where I'm confused at when it comes to calculations. And would like to know if being a resident would offset the 23.8% because of my residency in NV. And would that mean I would only owe the 11.3%.
