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Ellen, Tax Attorney
Category: Tax
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Experience:  25 years of experience helping people like you.
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I currently live in California where I bought currency that

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I currently live in California where I bought currency that will increase in value. I'd like to move to Texas before the end of the year, where I plan to exchange the currency with an increase in value. If I make the exchange after I move to Texas, will I have to pay capital gains tax in California?

Thank you for your question. If my answer is not clear to you, please ask me for clarification by using the reply button.

You will not be required to pay a California capital gains tax provided you are a resident of Texas at the time of the sale
Ellen and other Tax Specialists are ready to help you