Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Your taxes, your way. Get expert help or do it yourself. >> Get started
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
pentax
Returning Member

How do I delete a sale of real estate of a second home from one state return and move it to another state return

 
4 Replies
Hal_Al
Level 15

How do I delete a sale of real estate of a second home from one state return and move it to another state return

You can't. The sale must be reported in both states.

 

Your residence state taxes ALL your income, even the sale of property in another state.

 

The state the property is located in taxes the capital gain (profit) on the sale because you have income "sourced" in that state.  Yor residence state will give you a credit or partial credit for the tax you paid to the other state.

pentax
Returning Member

How do I delete a sale of real estate of a second home from one state return and move it to another state return

YES. THANKS SO MUCH

pentax
Returning Member

How do I delete a sale of real estate of a second home from one state return and move it to another state return

YES. THANKS SO MUCH.

DaveF1006
Employee Tax Expert

How do I delete a sale of real estate of a second home from one state return and move it to another state return

I am not sure which two states we are talking about but there is are usually sections in your state returns where you can allocate income items and separate between the two states. if you can elaborate with more details, especially the two states involved, we can be more specific in assisting you with the allocation information..  

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

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.49m
Members

2.63m
Discussions

Manage cookies
v