Land Sale Taxes

[kirlinsc]

I sold land located in FL while I was a primary resident of LA.  I have since changed primary residency to AL.  Does the sale of the land get taxed in LA, then a credit applied for those taxes by LA and subsequently taxed in AL on the return?  And if I understand correctly, all DIV, INT and crypto sales are also taxed in AL?  Or do I exclude the land and crypto from the AL return under the "Sale of Assets" section?  Thanks.

[DavidD66]

The sale of the land is taxable by your state of residence at the time you sold it.  Based on what you stated, you would report the sale on your Louisiana return.  Similar to the land sale, your dividends, interest, and capital gains (on crypto or other investments) are taxable by the state where you resided when you received the income or realized the gain.  Your year-end statement and/or 1099-B should have a schedule showing the dates your interest and dividends were paid and the dates of your crypto sales.  

[kirlinsc]

So same applies to DIV and INT statements...break them all out based on when I was paid?  And if they don't break them out I can put the total down for my current primary residence?  The way turbotax reads is that the DIV and INT are paid to your current end of year residence.  Thanks again.

[kirlinsc]

Do I just check the 'exclude from Schedule D' box on the land sale and crypto sales because the dates were while I was a LA resident?  I see where I can break out the amounts for the DIV and INT.  Furthermore, when I downloaded the LA State forms it looks like nothing transferred in.  It is providing me a tax credit.  Is there a way to pull all my DIV and INT and land sale info into the LA return rather than manually entering everything?  It almost looks like it gave all paid taxes back from LA and then applied everything to AL (my new primary residence) which resulted in a big AL tax bill since I have only resided there for a short time in 2024.  Thanks.

[DavidD66]

Let's say you own 100 shares of stock that pays a quarterly dividend of $1.00.  You are living in LA when three of the dividend payments are made, and AL when one of them is paid.  Your LA dividend income is $300 and you AL income is $100. 

I am not sure about what you are asking in your last question about excluding Schedule D. 

You should be completing two part-year resident returns.  You will have to go through each state return and allocate your income and deductions that apply to that state.  Complete one state return and then start the other one.  

[kirlinsc]

Thanks!