Hello there!
You did not provide sufficient information for me to conclude on the tax implications of the sale of your home.
The first question to consider is whether you made a gain or loss on the sale of your home:
- If you made a loss on the sale of your home, then there are no tax implications as you cannot deduct the loss from the sale of your primary residence.
- If you made a gain on the sale of your home, then you may have to pay capital gains tax on the gain or ordinary income tax depending on how long you had owned and /or lived in the home. However, you may also qualify to exclude up to $250000 of the gain if you meet certain conditions. Please see the link below for the conditions you need to satisfy in order to exclude the gain. https://turbotax.intuit.com/tax-tips/investments-and-taxes/5-things-you-should-know-about-capital-ga...
To prepare for 2023 tax season, you need to review the information in the link above and make sure you have sufficient information to calculate the gain on the sale of your home (i.e. gather your closing documents from the acquisition of the house, and from the sale of the house, gather any costs incurred in selling the home, plus the cost of any improvements you made to the home whilst you owned it).
For state taxes, you will likely need to file two state income tax returns as apart-year resident in both New Jersey and Indiana. If you worked for the same employer, you should have provided your employer a change of address in a timely manner so that they withhold state taxes for the correct state.
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