Retired and live year round in Oregon.
Carry a loan from Installment Sale of property in California. Received $11,726 principal, $1274 interest in 2019 from that California property.
Federal Form 6252 shows Capitol Gains of $9743, based on .8309 gross profit percentage.
No taxes collected from California, no income tax due.
Am I required to file in California??
Thanks.
If I do a
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Yes, you would be required to file in California because the capital gain on the sale and the interest are attributable to the California property sale.
I agree with MaryK. You should file a nonresident return.
California requires all taxpayers to file and report the sale of California property. Please view this California link for more information about this rule.
Thanks for the help. Seems crazy to have to file each year knowing no taxes were collected and no taxes are due. Have to pay extra for that state return and then extra to e-file. Next year I think I will just mail it in.
Thanks again.
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