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Hi, I moved to Texas in the month of November from Colorado and so Turbotax directed me to file colorado part year resident tax return.
At the page where I am asked to "Enter Capital gains/losses that you received on the sale of assests while a colorado resident and/or on the property located in colorado", my federal return shows the amount I earned from stocks and Colorado is left blank. So, do I have to look into my Brokerage account and calculate the amount earned for the days I lived in Colorado or should I live it as 0.
Greatly appreciate any help i could get here
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Were you a resident of CO or of TX when you sold the stocks?
See "Unearned Income Allocations" in this TT help reference:
How do I allocate (split) income for a part-year s... (intuit.com)
Thanks for taking time to follow up on my question. I was resident of Colorado when I sold the stocks.
Thank you @TomD8 for your response, I was resident of CO when I sold stocks. Could you please let me know if I should show it up in the state taxes for Colorado. Appreciate your help!
Yes. As stated in the help reference from my previous answer, unearned income (such as a capital gain from the sale of stocks) should be allocated to the state you were a resident of when you received it.
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