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Capital Gain from selling property in another state

I live in Md sold a property in WV.  Do I need to pay capital gain tax in Md?

 

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2 Replies
ErnieS0
Expert Alumni

Capital Gain from selling property in another state

Yes. Your property sale is taxable to West Virginia and Maryland. West Virginia taxes nonresidents on income derived from real or tangible personal property located in West Virginia. Maryland taxes residents on income earned everywhere.

 

File a nonresident WV tax return and a resident MD return. Maryland will give you a tax credit for tax paid to West Virginia. WV and MD are what are called reciprocal states, but the exception for filing two state returns only counts for W-2 income.

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Capital Gain from selling property in another state

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