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MD 502SU not created for capital gains from a land sale in NC

MD full time resident. Sold unimproved land in NC. 502SU is not being created to adjust the gain from NC on my MD return. I did my NC nonresident return first.

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2 Replies
MaryK4
Expert Alumni

MD 502SU not created for capital gains from a land sale in NC

This would not be a subtraction from income- you will use the 502CR to get a credit for the taxes paid to another state.

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MD 502SU not created for capital gains from a land sale in NC

Not the taxes paid to NC last year for selling a rental property in NC but excluding the capital gain from selling unimproved land in NC while I am a full time MD resident. My MD return is computing tax on this unless the NC capital gains are reported on 502SU. There were no problems reporting the NC rental sale last year. TTax MD return doesn't seem to handle an unimproved NC land sale (is no depreciation, no rental income) correctly.

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