Selling of property

[moccablend777]

How does selling property affect your taxes in Washington State?

[Gabriella_EA]

Hello moccablend777!

Thanks for joining us for the event today, and for your question!

Washington state does not have any income tax, so whether you're a resident of Washington state or just owned property there that you sold, you won't have any Washington state income tax on the sale of property there.

Your federal income taxes may be impacted, though. It depends on the type of property you sold - whether you sold your primary residence and meet certain qualifications to exclude the gain on the sale of your home from income taxes, or if you sold other property.