Solved: Is the capital gain on sale of our second home in Georgia taxable in SC or GA? We live in SC.
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chrisell
New Member

Is the capital gain on sale of our second home in Georgia taxable in SC or GA? We live in SC.

Closing attorney withheld for Georgia at the time of closing, so assume we'll file a GA non-resident return to get the money back. Thanks.

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ToddL
New Member

Is the capital gain on sale of our second home in Georgia taxable in SC or GA? We live in SC.

Since the income came from GA, it is subject to GA income tax. That is why the closing attorney withheld for Georgia tax.

You will have to file a non-resident GA tax return to see how much tax is owed and if you will receive any refund of the GA tax withheld.

The same income is also taxable by SC, since you are residents. Prepare the GA return first in TurboTax. The program will see that you paid GA tax on the GA gain, and SC will give you credit (against SC tax) for any tax you paid to GA on the same income.

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ToddL
New Member

Is the capital gain on sale of our second home in Georgia taxable in SC or GA? We live in SC.

Since the income came from GA, it is subject to GA income tax. That is why the closing attorney withheld for Georgia tax.

You will have to file a non-resident GA tax return to see how much tax is owed and if you will receive any refund of the GA tax withheld.

The same income is also taxable by SC, since you are residents. Prepare the GA return first in TurboTax. The program will see that you paid GA tax on the GA gain, and SC will give you credit (against SC tax) for any tax you paid to GA on the same income.

View solution in original post

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