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itsjohno
New Member

If my wife and I are filing separate state returns (MFS) how should I report the sale of our primary residence (capital gain) and vacation house (capital loss)? Split even between the two states?

 
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DDollar
Level 7

If my wife and I are filing separate state returns (MFS) how should I report the sale of our primary residence (capital gain) and vacation house (capital loss)? Split even between the two states?

If you are in a community property state, that is the way you are required to allocate.  If you are not in a community property state you can allocate any way you please if it is joint property.  If it is not joint property you should allocated according to who owns.

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DDollar
Level 7

If my wife and I are filing separate state returns (MFS) how should I report the sale of our primary residence (capital gain) and vacation house (capital loss)? Split even between the two states?

If you are in a community property state, that is the way you are required to allocate.  If you are not in a community property state you can allocate any way you please if it is joint property.  If it is not joint property you should allocated according to who owns.

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