MaryK4
Expert Alumni

Get your taxes done using TurboTax

You will want to use the Line 15 amount, and if you have a zero gain or a loss, you cannot take the deduction.  The Line 13 Capital Gain distributions can be used to determine your net capital gain/loss.

 

Arizona provides a reduction of 25% of the net Long-Term Capital Gains received from assets acquired after 12/31/2011 and included in the Federal Adjusted Gross Income (AGI).  Beginning in 2013, a subtraction is allowed for a percentage of any net long-term capital gain included in your federal adjusted gross income that is derived from an investment in an asset acquired after December 31, 2011.

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