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familydeal
New Member

I have capital gains reported through an Illinois K -1 and I am paying taxes to Illinois as a non resident. Do I pay my resident state of Arizona for this gain also?

Turbo Tax is currently taxing the capital gain amount in both Arizona and Illinois.

1 Reply
IsabellaG
Expert Alumni

I have capital gains reported through an Illinois K -1 and I am paying taxes to Illinois as a non resident. Do I pay my resident state of Arizona for this gain also?

Yes, your resident state will tax you on all of your income, no matter where it comes from. Arizona does provide a credit for income taxes paid to another state, so prepare IL first, then AZ to correctly compute the credit.

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