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Capital gains tax in CA on sale of primary residence

I moved to WA from CA in July, 2024. I sold my house in CA in Aug at which point if qualified as my primary residence since I lived here from Apr 2020 to Jul 2024. I made less than 500k in profits (got it for $813k, sold it for $1.3 Mil) on the sale of the property. Do I owe anything in CA state taxes for the sale of this property? What tax documents do I need for filing a return on the sale of my property?

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1 Reply
MayaD
Expert Alumni

Capital gains tax in CA on sale of primary residence

You generally need to report the sale of your home on your tax return if you received a Form 1099-S or if you do not meet the requirements for excluding the gain on the sale of your home.

Selling a Home

CA conform to the IRS rules and allow you to exclude, up to a certain amount, the gain you make on the sale of your home(up to $250,000 of profit is tax-free or up to $500,000 if you are married and file a joint return). You may take an exclusion if you owned and used the home for at least 2 out of 5 years.

ftb.ca.gov

 

If you received  form 1099-S, check: Where do I enter Form 1099-S?

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