I sold a residence in California in 2017. It was my primary residence till I moved out of the state in 2015. How is this taxed since I'm no longer a CA resident?

The house was my primary residence for more than 5 years until I left California in 2015. I had roughly a $1M gain after deducting initial purchase price and property improvements. As I am no longer a CA resident, do I still have to pay CA capital gains taxes? If so, can I pre-pay them in 2017 and take some benefit on my 2017 federal tax calculations?

1022

Level 15

Jun 4, 2019 4:33:20 PM

You still must pay CA capital gains taxes. California taxes non-residents on capital gains from the sale of property located in California. See page 7 of this reference: https://www.ftb.ca.gov/forms/2016/16_1031.pdf

On your federal return, state income taxes are deductible in the year actually paid.

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I sold a residence in California in 2017. It was my primary residence till I moved out of the state in 2015. How is this taxed since I'm no longer a CA resident?