Is the gain/loss on the sale of a perminate resident reportable as a Part-year resident in Colorado? If so, is the net gain reported or gross sale price?

[lmdconsultingser]

The  amounts provided by turbo tax as required for calculating Colorado Part-Year residency taxation, are extracted from the federal return tax data.  I don't know how to determine how much is allocated to my residency period in Colorado.  I'm assuming that since we moved to another state 10/31, that I divide the applicable gross amounts provided by 12 and times 10 months to determine the amount that is taxable.  Further, I don't know how to determine the capital gain derived from the sale of our permanent  home .... is it gross sales amount (i.e, $500,000) or is it the net amount (i.e., cost of sold house at purchase + remodeling costs and minus sales commission, etc.).

[MarilynG · Accepted solution]

Many times you don't even need to report the sale of your personal residence on your tax return if you meet the exclusion qualifications.

Click this link for more info on Taxable Home Sale. 

If you do have a gain to report, report it in the state where the property was located.

Yes, your gain would be calculated on Net Sales Price, after Sales Expenses. 

Click this link for more info on Entering a Home Sale. 

[Edited 03/23/2020 | 7:44 PM]