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Deductions & credits
I already filed my federal tax return and reported the gain on the sale of my personal residence, which I fully excluded from taxable income because it was under $250,000, or the allowable exclusion. I had to file a federal return because I received a form 1099-S on the sale. I had no other taxable income. However, since I had no taxable income on my federal return, am I required to file a California tax return? In the Franchise Tax Board's website, it says nothing has to be reported if the gain was under $250,000, which it was.
May 26, 2021
4:55 PM