2520265
I have approx 10,000 in short term gain from an unimproved property in WA that I had owned for less than a year. WA collected "excise" tax upon sale.
I was an OR resident for the first 3/4 of the year. The property was bought and sold while I was a resident of OR.
Do I put the full amount on line 13S? Seems like double tax to me.
Directions from OR: 13S Capital gain or loss. Determine the amount of gain or loss and capital gain distributions from Oregon sources for the part of the year you were a nonresident. Add the amount of your capital gains received and losses incurred during the part of the year you were an Oregon resident. Limit losses to $3,000 ($1,500 if married filing separately).
Thanks in advance.
Steve
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Unfortunately, it is not a double tax because Washington has the excise tax and Oregon has the income tax. Note: If it would have been taxed as income in a state you would have been able to claim a credit on your Oregon return to offset the "double tax"
So it is an "Oregon source" and 100 percent taxable?
Thanks,
Steve
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