BillM223
Expert Alumni

Get your taxes done using TurboTax

As you do this, just remember what I said above - California has no special tax rate for capital gains, that is, "capital" gains are like ordinary gains. 

 

This means that you don't have to worry about whether or not you have owned the asset for a year. You just need the sales price, the initial price, and the difference which is your taxable gain.

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