Capital Gains and Losses

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Second opinion] I have moved from Oregon to California

during this tax year. How...
Second opinion] I have moved from Oregon to California during this tax year. How will my capital gains be taxed at the State level? Is it just determined by which State where I'm claiming residency at the time of realizing the gain, or is there the opportunity to allocate the gain between the States? Obviously there is advantage in having the gain taxed in the lower tax State.
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Answered in 1 hour by:
11/15/2017
Chad EA, CFP ®
Chad EA, CFP ®, CERTIFIED FINANCIAL PLANNER TM, Professional
Category: Capital Gains and Losses
Satisfied Customers: 2,335
Experience: Federally licensed IRS Enrolled Agent, Certified Financial Planner (R), MBA
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Hello my name is ***** ***** I will be able to assist you today.

When you complete your Federal tax return you will also need to complete two state returns along with the dates you lived in each state.

As you mentioned, you pay capital gains tax in the state you resided in when the transaction was completed that caused the capital gains.

I do understand California's capital gains tax is the highest in the country.

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Chad EA, CFP ®
Chad EA, CFP ®, CERTIFIED FINANCIAL PLANNER TM, Professional
Category: Capital Gains and Losses
Satisfied Customers: 2,335
Experience: Federally licensed IRS Enrolled Agent, Certified Financial Planner (R), MBA
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Customer reply replied 6 months ago
Got it. Thanks.

Thank you for the rating.

Have a great day

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Chad EA, CFP ®
Chad EA, CFP ®
Chad EA, CFP ®, CERTIFIED FINANCIAL PLANNER TM, Professional
Category: Capital Gains and Losses
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