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Do I need to report long term capital gains at the state level if I have already reported it at the federal level?

 
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Carl
Level 15

Do I need to report long term capital gains at the state level if I have already reported it at the federal level?

Depends on the state and the amount. Thirteen states do not tax personal income in any way, form or fashion. The remaining 37 states tax all personal income. Some states don't tax personal "earned" income, yet they do tax other types of income such as investment income, gains/losses, and some forms of passive income.

 

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