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tactrng
New Member

Active Duty home of record in SC. Duty station was in MA where I bought a home. PCS to Virginia and sold my home for a $56K profit. Do I need to file state taxes with MA?

Lived in MA for 4 years before pcs move and sale of home and is my move reimbursement considered military wages?

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Accepted Solutions
DanaB
Intuit Alumni

Active Duty home of record in SC. Duty station was in MA where I bought a home. PCS to Virginia and sold my home for a $56K profit. Do I need to file state taxes with MA?

The move reimbursement is not considered wages. 

You will need to report the sale of the home but should qualify for the exclusion of the gain since you owned and used the home for at least 2 of the 5 years before the sale (on the federal and MA return).

The maximum amount of gain from selling a principal residence that you can exclude is:

  • $250,000 for a single, head of household, or married separate filer
  • $500,000 for married joint filer

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1 Reply
DanaB
Intuit Alumni

Active Duty home of record in SC. Duty station was in MA where I bought a home. PCS to Virginia and sold my home for a $56K profit. Do I need to file state taxes with MA?

The move reimbursement is not considered wages. 

You will need to report the sale of the home but should qualify for the exclusion of the gain since you owned and used the home for at least 2 of the 5 years before the sale (on the federal and MA return).

The maximum amount of gain from selling a principal residence that you can exclude is:

  • $250,000 for a single, head of household, or married separate filer
  • $500,000 for married joint filer
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