I have a Capital Gain from a stock sale. PA is asking me to identify the type of sale/gain it was. Per Turbo Tax here are the options PA is allowing
1. This sale is not taxable in PA. It is taxable so this will not work
2. This is a like kind Exchange
3. This was acquired before June 1, 1971 (It was not)
4. The asset was used for both Business and Personal use. This is a stock sale, it was a personal investment not used for Business.
5. The sale requires an adjustment to basis of the asset.
None make sense to me but give the choices, which should I choose.
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If none of those situations apply to your stock sale gain on your Pennsylvania tax return, you are not required to check any box on that screen. You can leave it blank and move on to the next screen.
For a normal stock sale gain, it makes sense that none of those situations would apply.
If none of those situations apply to your stock sale gain on your Pennsylvania tax return, you are not required to check any box on that screen. You can leave it blank and move on to the next screen.
For a normal stock sale gain, it makes sense that none of those situations would apply.
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