I received a 1099s form for the sale of my Disney timeshare

[columbo-01]

Do I need to enter State and State ID if we only used timeshare for personal use

[Vanessa A]

Yes, when you sell your personal property it can still be subject to capital gains taxes.  So, if you have a 1099S, you would enter it exactly as it appears on your forms.  As you walk through the entries if you do not see where to enter the state and state ID, you will just click "I have more info to enter that I don't see here"  that will give you the drop downs to enter your state information.

[columbo-01]

Do you know if we use the state we live or the state of the timeshare? It was a Disney timeshare we sold our points.  How do I find the state ID?

[ThomasM125]

You won't need to enter a state ID. Florida does not tax personal capital gain income, so you don't need to file a Florida income tax return. You just enter the sale in the federal portion of TurboTax and the income will flow down to the state tax return for the state you live in, if they have a state tax.

[columbo-01]

Let me make sure I understand with Capital Gains you pay federal and state tax where you live not where the timeshare was?  Very confusing.  Turbo doesn’t make it easy to understand.  Can I talk to someone at Turbo Tax?

[KrisD15]

Not necessarily. 

Normally the state income tax is subject to the state where the income was produced or property was sold. Then you may get a credit for that tax in the state in which you live, so you are not double taxed. 

Since Florida does not have a state income tax, you only file a resident state return and claim the income on that return.