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Do I have to pay capital gains in Virginia, where I am a resident, on rental property in North Carolina?
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posted
June 1, 2019
12:21 PM
last updated
June 01, 2019
12:21 PM
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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.
June 1, 2019
12:21 PM
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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.
June 1, 2019
12:21 PM
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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.
June 1, 2019
12:21 PM
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