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Level 1
November 16, 2022
Question

Sold real property in VA but live. in CA look i

  • November 16, 2022
  • 1 reply
  • 19 views

i recently sold a home in Virginia but I live in California.  This was an all cash transaction.   I am also on  social security.  What is my tax liability?

    1 reply

    Level 6
    November 16, 2022

    Hi MERJAZ,

     

    It sounds like you will need to file a Virginia return to report the sale of property in Virginia. If you sold the property at a gain, Virginia will tax the gain. You will also report the sale on your California return. As a resident of CA, you will be able to claim credit on your Virginia return to avoid double state taxation of the amount.

     

    I hope this information is helpful!

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