I am moving from CA to NC for work. My primary residence is in CA and I have lived in the property for the last 15 years. I plan to move to NC so that I begin living and working there full time on Jan 1, 2022. My income will be from my job (NC employer). If I later sell my CA house in 2022(I am not planning to rent it but don’t want to sell it until I am sure I want to stay in NC) will I have to pay CA taxes on the sale or would I file in NC and only pay taxes in NC as that will be my residence,
Thank you in advance.
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If you have a taxable capital gain from your CA home, and the sale occurs after you become an NC resident, the gain would be taxable by NC, as well as by CA. In that circumstance, you'd be able to claim a credit on your NC return for the taxes paid to CA on that income.
You will pay CA taxes on the sale of a home that is in CA.
If you have a taxable capital gain from your CA home, and the sale occurs after you become an NC resident, the gain would be taxable by NC, as well as by CA. In that circumstance, you'd be able to claim a credit on your NC return for the taxes paid to CA on that income.
Thank you.
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