Coinbase - allocating gain or loss multiple States

[stong]

For allocating capital gain or loss between CA and VA; I need help to understand how to answer the prompts.

i.e., Coinbase is based in CA; so does that mean all the proceeds are "received from CA sources"?

TT pre-filled out the box for "Earned/Rec'd while a CA resident", so would the other boxes (Earned/rec'd from CA Source as if Nonresident for full year" and "Earned/Rec'd from CA source while a CA non resident" be " 0"? If so, unsure why TT doesn't automatically fill it in for me.

[MarilynG1]

No, your Capital Gains are allocated between the states you lived in when you received them.  Because Coinbase is a CA company does not make it 'California source income'.

You are correct that if you did not live in CA in 2021 (but need to file a Non-Resident return there for some other reason), you could enter $0 in both places.

Click this link for more info on Allocating Income. 

[stong]

I need help to understand the terminology.

I moved from CA to VA in 2021; and filing as a part year CA and part year VA resident. While living in CA, I sold some Coinbase cryptocurrency which reported a $20 long term gain. So TT is correct when it pre-filled out "Earned/Rec'd While a CA resident" that I have $20 long term gain from CA source.

I'd like help to better understand what TT is asking by "Earned/Rec'd from CA source as if nonresident for Full Year" in the first fill-in-the-box.  If I sold while living in CA (before moving to VA) and the long term gain was $20, and I'm allocating the capital gains by sold date, would I answer " $20 " or "0" to this question?; Next, if I have a $100 Capital Gain Distribution and I used a % allocation of 40% CA and 60% VA (instead of sales date allocation), would I put $100 in the box "Earned/Rec'd from CA source as if nonresident for Full Year"?

Does earned "from CA source" mean: from a sale while living in CA as discussed in the allocation link you provided? and if so, I'm confused when it asks:

Tell me how much you earned from this sale from CA source, but treat the sale as if I were a nonresident for the full year (this sounds strange, like it's asking: tell me how much you earned from the sale while you lived in CA, but pretend you didn't live in CA for the whole year)?

and how does that question differ from the next box asking "Earned/Rec'd from a CA source while a CA nonresident"?

Thanks

[MarilynG1]

Since TT pre-filled out the amount for "Earned/Rec'd while a CA resident" correctly, you can leave the other boxes blank.

Not all fields need an entry.

[stong]

Thanks - that helps me thru the ones with date allocations.

When I ran the state error check, I need to enter something for capital gains distribution where I have it by % allocation type. So using the numbers below - should I put in $81 in amt as if Nonres or some other value? $81 was the total capital gains distribution (not related to Coinbase or crypto) for that line item. thanks.

[MarilynG1 · Accepted solution]

TurboTax filled in the amount for you of $39 as a Part Year Resident.

You can put $0 as amount for Non-Resident.