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Sale of Rental Property in a non-resident state
I sold a rental property in 2019 that my brother and I have co-owned for several years. I am a full-year resident of SC, and he is a full resident of TN. We received no income from rent in all of 2019. My half of the 2019 expenses and losses on this property was approximately $18,000. I took these losses on my Federal Taxes and showed that information on my SC taxes. It appears that SC taxed my capital gains as shown by TurboTax. Does this indicate that my capital gains are exempted from NC taxes?
‎February 20, 2020
10:17 AM