Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Feb 24, 2020 5:49:46 PM

What is Gain from Property Not Held for Investment in CA taxes

0 1 484
1 Replies
Expert Alumni
Feb 24, 2020 6:12:59 PM

Did you sell any investment property this year such as a rental house or land? This is what this is referring to.  If you have capital gains from stock or bonds or the sale of your own house than this type of income is investment property.  It is asking you if you sold any property other than an investment property because if you did, then that sale would be considered ordinary income rather than capital gains and will be taxed in accordance to the ordinary income tax rates and not the more favorable capital gains rates. Rental property is a good example of this as being not for investment for tax reporting purposes.