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Stephanie B.
Stephanie B., Enrolled Agent
Category: Tax
Satisfied Customers: 556
Experience:  MTax, EA, QuickBooks Proadvisor. Over 15 years accounting and tax experience specializing in individual and small business.
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Taxpayer - a full year resident of Arizona Sold Rental Property

Customer Question

Taxpayer - a full year resident of Arizona
Sold Rental Property located in Washington State
Is the sale taxable in Arizona?
Submitted: 2 years ago.
Category: Tax
Expert:  Stephanie B. replied 2 years ago.

Stephanie B. :

Thank you for your question.

When you are a resident of a state, you are taxed on all your income in that state because that is your resident state. Generally, you would pay tax to the state that the rental property was located in as well. On your resident state return you would then get a credit for the taxes paid to the other state. This would result in only one state taxing you.

Since your situation involves Washington, which does not have a state tax, you will only be taxed in the state of residence, which is AZ.

Please let me know if you need additional clarification.

I look forward to your response.

Stephanie

Expert:  Stephanie B. replied 2 years ago.
Thank you for your question. I have switched to Q & A to ensure you see my response.

When you are a resident of a state, you are taxed on all your income in that state because that is your resident state. Generally, you would pay tax to the state that the rental property was located in as well. On your resident state return you would then get a credit for the taxes paid to the other state. This would result in only one state taxing you.

Since your situation involves Washington, which does not have a state tax, you will only be taxed in the state of residence, which is AZ.

Please let me know if you need additional clarification.

I look forward to your response.

Stephanie

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