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Level 1
June 4, 2019
Solved

If i live in florida and sell a rental house in california do i pay california tax

  • June 4, 2019
  • 2 replies
  • 28 views

I own property in both states and, can change my residence to either ca. or fl. i'm trying to find the best location to lesson my tax burden

Best answer by

Yes, unfortunately.

You will file as a non-resident and be taxed only on the gain.

How California taxes residents, nonresidents, and part-year residents
  • California residents - Taxed on ALL income, including income from sources outside California.
  • Nonresidents of California - Taxed only on income from California sources.
  • Part-year residents of California - Taxed on all income received while a resident and only on income from California sources while a nonresident.

https://www.ftb.ca.gov/individuals/filertn/nonresidents-part-year-residents.shtml#how_taxed

2 replies

Answer
June 4, 2019

Yes, unfortunately.

You will file as a non-resident and be taxed only on the gain.

How California taxes residents, nonresidents, and part-year residents
  • California residents - Taxed on ALL income, including income from sources outside California.
  • Nonresidents of California - Taxed only on income from California sources.
  • Part-year residents of California - Taxed on all income received while a resident and only on income from California sources while a nonresident.

https://www.ftb.ca.gov/individuals/filertn/nonresidents-part-year-residents.shtml#how_taxed

Level 2
June 4, 2019
edit: commented on wrong thread sorry