MonikaK1
Expert Alumni

State tax filing

You have posted in and referenced a thread that has been inactive for over two years. Please clarify your question if this response doesn't resolve it. You sold a California home after moving to Vermont? and you sold stock?

 

To enter the sale of a personal residence in TurboTax Online:

 

  • Click on Federal Taxes
  • Click on Wages and Income
  • Scroll down to Less Common Income
  • On Sale of Home (gain or loss), click the start or update button

If your gain on the sale will be less than the applicable limit, and if it was never used for business or as a rental, and you didn't receive a Form 1099-S, you don't need to report the sale on your return at all. Not having to report the sale could save you from needing to upgrade your TurboTax product.

 

See this article for more information on determining the gain on the sale of your home.

 

Prepare your part-year California return first, then prepare a Resident return for Vermont if that was your state of residence at the end of the year. Answer the questions in TurboTax about your income in both states. You may be able to get a credit on your Vermont return for taxes paid to California.

 

When you have multiple state returns, you should usually enter the earlier part-year resident or nonresident state return first, then enter the state where you resided at the end of the year, in order to get the correct results. The state where you are currently a resident may be able to give you a credit for taxes you paid to other states. There are some exceptions; for example, Arizona credits California residents for taxes expected to be paid to California on Arizona income.

 

Several states also have reciprocal agreements. See here for more information.

 

Please also see this TurboTax tips article for more information on filing returns with multiple states.

 

@babramzon

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