I am a Wisconsin resident who sold vacant land in Illinois at a profit. Do I report that profit to Illinois, and can I reduce my income in Wisconsin by an equal amount?

[DS30 · Accepted solution]

You will need to file both an IL nonresident and WI resident state income tax return to report the capital gain from the sale of the IL located property for the full amount of the gain. However, you will get a state tax credit in WI for any state income tax paid to IL related to the sale of the IL located property.

Just follow the TurboTax guide when working on your states (remembering to do your nonresident state return first) and TurboTax will do all the calculations and credits to your resident states return.

Here is additional information about filing in multiple states (select "see more answer" to view the entire attachment)

https://ttlc.intuit.com/replies/3300797