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New Member
posted Jan 26, 2022 11:34:49 AM

State of Residence Change & Capital Gains/Losses

Hi....lived in Michigan until 9/30/21, then changed residency to Wisconsin 10/1/21.  If I download the 1099B information from my broker into Turbotax, will it recognize the dates of sales so as to ensure it populates the correct dates for state tax purposes or does each transaction need to be manually entered?  Thanks!

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2 Replies
Employee Tax Expert
Jan 26, 2022 11:58:12 AM

If your 1099-B is imported, it will recognize the dates of sale.  When you do your state returns, verify the information for each state, you could still be asked what the correct gain is for each state.  Sometimes the states are detailed in such a way that it's difficult to carry accurately without any manual intervention. Be prepared with those amounts on the chance your state requires an entry 

 

There is not an order of preparing the state returns when it's part year residency so you can choose which one to do first without concern.

New Member
Jan 26, 2022 12:13:04 PM

Thanks very much for the prompt reply.  That helps!