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The gains are allocated to the state you resided in when the property was sold and the gain or loss was generated. Allocating unearned income (capital gains) is pretty straightforward: just allocate it to the state you were a resident of when you received it. Here are some examples, the 2nd one refers to capital gains:
How do I allocate (split) income for a part-year state return?
The gains are allocated to the state you resided in when the property was sold and the gain or loss was generated. Allocating unearned income (capital gains) is pretty straightforward: just allocate it to the state you were a resident of when you received it. Here are some examples, the 2nd one refers to capital gains:
How do I allocate (split) income for a part-year state return?
however, the sale of tangible capital assets like real estate can be taxed by both the state where the property exists and the state where you have domicile if different. if the property is not located in the state where you have domicile but has an income tax, there will be a tax credit for the gain taxed by both states.
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