turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Do I need to report a "business property" sale in a different state to my home state?

I sold unimproved land in AZ for a loss, and I live in CA. I will be filing a state tax return in AZ. Do I also need to report the sale of that property in my CA state return?

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions

Do I need to report a "business property" sale in a different state to my home state?

AZ non-resident return. If you are Single, Married Filing Separately or Head of Household and your Arizona Adjusted Gross Income (AAGI) is at least $5,500 or your Gross Income (GI) is at least $15,000 you must file.

If you are Married Filing Jointly and your AAGI is at least $11,000 or your GI is at least $15,000 you must file.

So if the sale is for $15K you are suppose to file a Non-resident AZ return.  With a loss there is no tax due to AZ.

Your resident of State of CA, taxes you on "all income" so yes the sale should be on the CA return. 

View solution in original post

1 Reply

Do I need to report a "business property" sale in a different state to my home state?

AZ non-resident return. If you are Single, Married Filing Separately or Head of Household and your Arizona Adjusted Gross Income (AAGI) is at least $5,500 or your Gross Income (GI) is at least $15,000 you must file.

If you are Married Filing Jointly and your AAGI is at least $11,000 or your GI is at least $15,000 you must file.

So if the sale is for $15K you are suppose to file a Non-resident AZ return.  With a loss there is no tax due to AZ.

Your resident of State of CA, taxes you on "all income" so yes the sale should be on the CA return. 

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question