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sunsetkerry
New Member

Do I need to pay taxes on capital gains from California property in California, Oregon, or in both California and Oregon, if I am a resident of and work in Oregon?

A form 541 was submitted to FTB by the estate.

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TerryA
Level 7

Do I need to pay taxes on capital gains from California property in California, Oregon, or in both California and Oregon, if I am a resident of and work in Oregon?

California gets to tax the gain if the property was located in Calif, such as real estate. Oregon gets to tax it also because you live there.

TT/Calif will prepare the other state tax credit for you for the portion of Oregon tax attributable to the gain that Calif is taxing also. Prepare your Oregon return first, then the nonresident Calif return.

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1 Reply
TerryA
Level 7

Do I need to pay taxes on capital gains from California property in California, Oregon, or in both California and Oregon, if I am a resident of and work in Oregon?

California gets to tax the gain if the property was located in Calif, such as real estate. Oregon gets to tax it also because you live there.

TT/Calif will prepare the other state tax credit for you for the portion of Oregon tax attributable to the gain that Calif is taxing also. Prepare your Oregon return first, then the nonresident Calif return.

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