topic Capital Gains in Get your taxes done using TurboTax

Capital Gains

sherrie2 — Tue, 10 Mar 2026 07:01:48 GMT

My husband purchased property in Oklahoma in 1975. He paid @$1000 for it. We live in Florida and have an opportunity to sell it for $18,000 by the end of this year. What are our tax/capital gains consequences in Florida and/or Oklahoma?

Re: Capital Gains

John-H2021 — Wed, 16 Nov 2022 18:39:37 GMT

Hello Sherrie,

For Florida you don't need to file anything as there is no state income tax

For Oklahoma you would need to file a non resident return reporting the gain on the sale of the property.