CA property sold, MO Turbo Tax attempting to file capital gains on it

[teacherlady19]

We sold our home in CA in June 2021, and moved to MO permanently in July 2021.  Trying to complete the tax forms on TurboTax, TT keeps putting the capital gains for our CA home (already in the tax form for CA) into MO as well. TT will not allow me to remove the capital gains from MO.  It is my understanding that we only pay capital gains tax to the Fed and to the state where the sold property is located. 

Help, please? With many thanks.

Donna 

[ColeenD3]

You can double-check dates to make sure the program recognizes that the sale happened before you moved. Another solution is to delete the sale, prepare your MO return, and then add the house sale and file CA.

[teacherlady19]

So as an off-shoot from that, now MO form is asking if I am a "part year resident filing as a resident" or "part year resident filing as a non resident". Not sure if checking "filing as a resident" might have something to do with that? Should I change it to "filing as a non-resident" though we have purchased a new home here?

Thank you!

[ColeenD3]

Yes, if income received in Missouri or earned in Missouri was greater than $600 for a nonresident or $1,200 for a resident. As a part-year resident, you generally have the option of claiming a Missouri resident credit (Form MO-CR) or Missouri income percentage (Form MO-NRI). Since Florida does not have a state income tax, you are not eligible to claim the resident credit. You must complete Form MO-1040, along with Form MO-NRI to calculate your Missouri income percentage. By completing Form MO-NRI, you will be taxed on the income received while you were a resident of Missouri only.

Part-Year Resident - An individual domiciled elsewhere prior to moving to Missouri or establishes domicile elsewhere after moving from Missouri. A part-year resident is treated as a nonresident but may determine his tax as if a resident for the entire year.

As a part-year resident, you may take either the Missouri resident credit (MO-CR) or the Missouri income percentage (MO-NRI), whichever is to your benefit. On a joint return, one spouse may take the Missouri income percentage and the other the Missouri resident credit. However, one individual cannot claim both!

MO PY

MO PY 2