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stephen4
New Member

Do I have to pay capital gains in Virginia, where I am a resident, on rental property in North Carolina?

 
3 Replies
CarolynM
Level 1

Do I have to pay capital gains in Virginia, where I am a resident, on rental property in North Carolina?

Yes, as a Virginia resident, you are taxed on your rental income earned in another state.

However, you will also receive VA state tax credit for the taxes you paid to NC.

Make sure to complete the NC Non Resident Return first. 

stephen4
New Member

Do I have to pay capital gains in Virginia, where I am a resident, on rental property in North Carolina?

Thanks, but it is not the rental income, but the capital gain on the sale that was my concern.
CarolynM
Level 1

Do I have to pay capital gains in Virginia, where I am a resident, on rental property in North Carolina?

I am sorry. You are taxed on the capital gains. The rest of the answer remains the same.
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