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State of Maryland capitol gains
Under Maryland state tax filing it says that "Capital gains from US obligations are tax free" I sold a home in 2019 in Maryland. Does that mean that the capital gains on the home sale are not taxed on my Maryland 2019 taxes?
djw
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Deductions & credits
No, your house was not a US Obligation. An example of a US Obligation would be savings bonds. The US borrows the money and is obligated to repay it.
The U.S. did not borrow money for you house.You must pay the tax.
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Deductions & credits
I filed my taxes with the state of Maryland and there is a error. I deducted the capital gains from my income and I was not to do that. How do I correct the filing?
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Deductions & credits
Since you already filed your return, you need to amend it to make the correction.
Here's how you amend your state return:
- Sign in to your account.
- Scroll down to Your tax return & documents , select 2019 and then Amend (change) return.
- Select Amend using TurboTax Online.
- Select the reason you’re amending and continue.
- Answer the questions about your federal return, even if they don't apply. You'll eventually get to the screen Let's get started on your state taxes.
- Keep going and we'll present you with the option to amend. In some states, this appears right at the beginning; in others, it appears towards the end of the state interview.
- When finished, we'll provide printing and filing instructions for the amendment. Your state may take several months to process it.
Amended return can't be e-file, you need to print it and mail it in.
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