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felixthecat320
Returning Member

CA Capital Gains Tax if you sell CA home

Hi,

 

I recently sold a home in San Diego, CA in which I've lived in 2 out of the last 5 years. However, I lived out of the country in the year I sold the home (2023). Given this, do I still have to pay CA capital gains tax? Or is federal sufficient? To clarify, I was not a CA resident in 2023. 

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2 Replies
TomD8
Level 15

CA Capital Gains Tax if you sell CA home

A taxable gain from the sale of property located in California is taxable by California, regardless of whether or not you are a California resident.  The amount of your gain that is taxable on your federal return will also be taxable on your California return.  (If you qualify for the capital gain exclusion on your federal return, it will also apply to your California return.)

**Answers are correct to the best of my ability but do not constitute tax or legal advice.

CA Capital Gains Tax if you sell CA home

If you had earnings from an investment in California you have to pay taxes to California. 

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