Thanks @Vanessa A. This was a tax introduced a couple of years ago, as outlined here:
Capital gains tax | Washington Department of Revenue
The tax calculations for this are discussed here: Statement regarding the capital gains excise tax and calculation of credit for taxes paid to another...
Washington uses a two-tier rate structure based on the amount of taxable gain:
The higher rate applies only to the excess amount, not the entire gain.
But what I'm understanding from you is that TurboTax doesn't support this at all?
Thanks!
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Correct; TurboTax does not directly support the electronic filing of the Washington State capital gains excise tax return. While TurboTax helps to calculate federal capital gains and imports transactions, Washington's 7% tax on long-term gains exceeding $250,000 need to be filed separately through the Washington Department of Revenue.
More information about Washington taxes can be found in this TurboTax blog article.
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