Hi, I live in NYC and sold a rental property in NJ in 2020 for a profit. Do I need to file a non-resident NJ tax for the transfer tax paid to NJ for the sale of the rental home?
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Yes, exactly, you need to file a New Jersey non-resident tax return since you received income sourced in New Jersey.
You have to file an non-resident NJ tax return because a capital gain from the sale of property located in NJ is taxable by NJ, as well as by your home state of NY.
In TT, complete your non-resident NJ return first, before your NY return, so that NY credits you for the taxes paid to NJ.
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