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filing taxes in another state after inheriting property that just sold with no capital gains

My deceased parents left land in other state in their trust to myself and several siblings.  The property was sold but there is no capital gain.  Do we still have to file taxes in that state.  I did not receive any paperwork that could be attached to the tax forms.  If I do have to file, under what section do I use. 

 

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1 Best answer

Accepted Solutions
DianeW777
Expert Alumni

filing taxes in another state after inheriting property that just sold with no capital gains

No. Based on your information, a West Virginia (WV) return is not required if there is no WV income included in the federal income. Also, you indicated the trust handled the sale. If you get a K1, then enter the information on your tax return. If not, then there is nothing for you to report on your personal tax return (federal or state).

  • You were not a resident of West Virginia at any time during 2024, but your federal adjusted gross income includes income from West Virginia sources (nonresident). You are required to file a West Virginia return even though you may not be required to file a federal return if: 
    • • Your West Virginia adjusted gross income is greater than your allowable deduction for personal exemptions ($2,000 per exemption, or $500 if you claim zero exemptions). Your income is to be determined as if you had been required to file a federal return. Your exemptions are to be determined following the rules on page 24.

@leecee01 

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3 Replies
MaryK4
Expert Alumni

filing taxes in another state after inheriting property that just sold with no capital gains

It depends on what state- each state has their own rules and filing requirements- let us know which state and we can check for you!

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**Mark the post that answers your question by clicking on "Mark as Best Answer"

filing taxes in another state after inheriting property that just sold with no capital gains

The state the land was in is West Virginia.  I live in Maryland.  The property was part of a trust.  The executor handed the sale and I know that all the expenses that incurred were paid by the trust.  Let me know if I need to add any other information.  Thank you, CL

DianeW777
Expert Alumni

filing taxes in another state after inheriting property that just sold with no capital gains

No. Based on your information, a West Virginia (WV) return is not required if there is no WV income included in the federal income. Also, you indicated the trust handled the sale. If you get a K1, then enter the information on your tax return. If not, then there is nothing for you to report on your personal tax return (federal or state).

  • You were not a resident of West Virginia at any time during 2024, but your federal adjusted gross income includes income from West Virginia sources (nonresident). You are required to file a West Virginia return even though you may not be required to file a federal return if: 
    • • Your West Virginia adjusted gross income is greater than your allowable deduction for personal exemptions ($2,000 per exemption, or $500 if you claim zero exemptions). Your income is to be determined as if you had been required to file a federal return. Your exemptions are to be determined following the rules on page 24.

@leecee01 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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