State of Residence Change & Capital Gains/Losses

Forum|Forum|4 years ago
January 26, 2022
1 reply
2 views

Hi....lived in Michigan until 9/30/21, then changed residency to Wisconsin 10/1/21. If I download the 1099B information from my broker into Turbotax, will it recognize the dates of sales so as to ensure it populates the correct dates for state tax purposes or does each transaction need to be manually entered? Thanks!

DianeW777

Level 15

If your 1099-B is imported, it will recognize the dates of sale. When you do your state returns, verify the information for each state, you could still be asked what the correct gain is for each state. Sometimes the states are detailed in such a way that it's difficult to carry accurately without any manual intervention. Be prepared with those amounts on the chance your state requires an entry

There is not an order of preparing the state returns when it's part year residency so you can choose which one to do first without concern.

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