we live in Texas inherited a home in Missouri and we sold that home in under a year. Trying to figure out where to pay the capital gains taxes on the sale of this home. Does it go in the federal or the state and where in those sections does it go using TurboTax home and business. Currently we put sale amount in the investment income on the federal under personal income, and it shows zero gains or losses, and we also put it in the state files for income and what we’re seeing is that the software is showing it’s being taxed in Missouri at a much lower % rate than we believe Missouri capital gains is 5%
