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CA state tax selling primary residence
If my spouse and I have owned and lived in our house for at least two years, then we we also get the $500,000 exclusion from California state tax like from Federal tax? Thank you,
September 17, 2021
3:58 PM
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Deductions & credits
Yes, the CA exclusion follows the federal exclusion rates and length of time of living in and owning the personal residence for CA residents.
September 17, 2021
4:02 PM
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Deductions & credits
If living in the house for less than two years, there are some federal exceptions, such as job location change more than 50 miles away, etc., for partial exclusion. Does California also follow this? Thank you.
September 17, 2021
4:07 PM