Picking up where I left off on previous post on how to calculate our gain on an inherited house we sold in CA...
When the sale was culminated, money was put in escrow (I assume) for CA State Franchise Tax. I was told at some point I may get some of that back. I think since I'm a non-resident I will not get a full refund, as it IS a capital gain and IS over $250K.
At any rate.. 1) Please confirm I'm obligated to fill out a CA state tax return. I assume so, especially in light of ---> 2) the only entry I'm aware of at the moment is the capital gain on the sale of the house. It pulls the gain value from the my Federal return and shows a refund of about 66% of the original 3.3% that was pulled out at the sale. This is good news, if it holds up. Does it sound plausible?
Thoughts? Questions?
Thanks in advance!
