I lived in MD in a former investment property for 3 years which I made into primary home. Then moved to FL in 2023. I sold the MD property in 2024 and made a profit.
- Do I have to file any taxes in MD for 2024 as FL has no state taxes?
- Do I just pay federal taxes and no state taxes?
- Property was investment property 2010 to 2020, then primary home mid-2020-mid 2023, and then investment property rest of 2023 to beginning 2024.
- when it was a investment property, I depreciated for 11 years. Do I recapture this? Is this only for Federal taxes? Is it for state taxes for MD?
- Do I get a full capital gain exclusion as primary home or is that pro-rated somehow?