Washington State Capital Gains Tax on Stock Investment Sales

[elizlee66]

Washington now has capital gains tax on stock investment sales.  Where do I see that on my tax return?

[DawnC]

The state of Washington does not have a personal income tax or corporate income tax. However, certain individuals may need to file if they owe the Washington capital gains tax or wish to file for the Working Families Tax Credit.   

There are several deductions and exemptions available that may reduce the taxable amount of long-term gains, including an annual standard deduction.   You are not required to file a capital gains tax return if your net long-term capital gains are exempt or below the standard deduction of $262,000.   Did TurboTax generate a WA return?    

WA-Cap Gains Tax