@SundayInSalem
Hello, and thank you.
Vac rental sold in 2021 in NC. All infor for the rental over the years is in TTx.
"... TurboTax should automatically compute the nonresident credit if you prepare your nonresident return first..." We typically do not do NC non resident first, as noted in your reply. We do the Fed tax using TTx, completing all of the rental infor, and now the sale. Then TTx does the NC state non-residence form. The sale and capital gains will transfer over per your answer. This will be the only capital gains, so all of it will be NC. If we read your answer correctly, we will have capital gains to pay on the Fed, as well as NC. We are in FL, and we have no state tax. to claim a double tax. ".... you may be able to deduct any NC tax paid on the following year's return. For example, if you filed a 2020 (21) return, you can claim a deduction on your 2021 (22) return because that's the year you actually paid your state income tax. Federal law limits the deduction for state and local taxes to $10,000 (the so-called SALT deduction). You will have to itemize deductions to deduct state tax on the federal return. Enter the tax paid anyway in Deductions & Credits. TurboTax will do the math for you..." No FL state income tax, and we do not itemize. TTx does not do this automatically? Come 2022, we would not be completing a NC tax form, as the property was sold in 2021. Thank you very much @SundayInSalem
