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lsarge
New Member

reporting the sale of in investment home

We co-own an investment property in CA with another married couple. We domicile in WA, and they domicile in OR. We purchased this condo in 2012 and sold it in 2024. We shared all of the costs and expenses 50/50 during the course of ownership. This property was used solely for personal use, it was not rented, and no income was received. Both couples were part-time residents in CA, each staying at the property less than 120 days of the year. Will we be required to file a CA state tax return for 2024 reporting the capital gains we received from the sale?

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