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djwest1
New Member

Sold a house in a trust in California and live in Arizona. I received a K-1 (1041) & K-1 (541) . It shows I owe taxes in California any Arizona, Is this correct?

 
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2 Replies
DDollar
Expert Alumni

Sold a house in a trust in California and live in Arizona. I received a K-1 (1041) & K-1 (541) . It shows I owe taxes in California any Arizona, Is this correct?

Yes, if the house was in California, any gain on the sale is taxable by California, whether you are resident or not.

CaronM
Intuit Alumni

Sold a house in a trust in California and live in Arizona. I received a K-1 (1041) & K-1 (541) . It shows I owe taxes in California any Arizona, Is this correct?

Do note that you won't be double taxed; you are eligible for a tax credit on your California return for the AZ tax you paid on the sale. The program will help you determine the amount and complete the needed forms.

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