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judyjanak
New Member

What do you do if Turbo Tax imports capital gains from your federal return to your state return that should not be there?????

Turbo Tax has listed the sale of my stocks on the Oklahoma state form when they are not oklahome property
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2 Replies
rjs
Level 15
Level 15

What do you do if Turbo Tax imports capital gains from your federal return to your state return that should not be there?????

If you live in Oklahoma you have to pay Oklahoma tax on all of your income, no matter where the income is from. And stocks don't have a physical location. You own them in the state that you live in.

 

judyjanak
New Member

What do you do if Turbo Tax imports capital gains from your federal return to your state return that should not be there?????

I am a non-resident of Oklahoma.  The stocks showing on the OK form are owned by me in TEXAS and should not be listed.  TurboTax is asking for information on each of them.  I finally found a way (since you can't see the actual form) to check a box indicating these were excluded for all except one of the stocks.

 

This is definitely a turbotax glitch and its frustrating.

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