topic Re: Split for capital gains when moving in Investing

Split for capital gains when moving

Kcollins75 — Tue, 15 Oct 2019 20:33:57 GMT

If you move states halfway through the year can yo still allocate 50/50 for capital gains? Can you deduct capital losses taken in second half of year against gains from first half of year?

Re: Split for capital gains when moving

NCperson — Wed, 16 Oct 2019 23:04:33 GMT

for federal tax purposes, moving from one state to another has not impact on your taxes

for state tax purposes, fill out the tax forms for the state you moved from first and then complete the forms for the state you now live in..... the state forms themselves will resolve your question on capital gains.

Re: Split for capital gains when moving

Kcollins75 — Fri, 18 Oct 2019 14:56:08 GMT

question is whether capital gains losses will be reduction of gains if not in the same period that I lived in the previous state. EG. had gains in first half before leaving California but if I do tax loss harvesting in second part of the year will it not be a reduction of overall capital gains for the state?