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JOSADA1
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Land Sale in Texas but reside in Oklahoma

I reside in Oklahoma, I recently sold land in Texas. Do I need to pay Oklahoma Income tax on the profit from this sale?

 

If Yes, what is the tax rate on the profits?

 

I am a disabled veteran is there any wavier for paying taxes on Capital Gains for Federal Tax or Oklahoma Tax on property sales out of state?

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2 Replies

Land Sale in Texas but reside in Oklahoma

Land Sale in Texas but reside in Oklahoma

No, there is not an income exclusion for the sale of property at a gain on either on a federal or Oklahoma tax return if you are a disabled veteran.

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