The sale of stocks

[rochdalian]

Hello,

Do i need to pay tax to the state as well as to Federal when i sell shares?

Thank you

Wayne

[MaryK4 · Accepted solution]

Yes, generally, if your state taxes personal income, you will have to pay tax on income from the sales of stock.

[rochdalian]

Turbo Tax says for the State i need to fill out a 1099B for the state, i dont recall doing that before, i assumed the 1099B filed in the Federal would be sufficient in Turbo Tax.

(Thank you for your reply Mary)