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PA tax on sale of rental property in VA
I live in PA. I owned a rental property in VA which I sold in Sept 2021. I realized a capital gain. On the PA tax form the capital gain is listed but then in addition is a line called Sec 1202 50% exclusion. Dispite the word "exclusion" this amount is added to the capital gain to determine my state tax. Is this correct? Is there something within Turbotax that I missed that is adding this extra tax on top? I did not have this extra tax on the federal form.
March 7, 2022
3:11 PM