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June 6, 2019
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Do I need to report a "business property" sale in a different state to my home state?

  • June 6, 2019
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I sold unimproved land in AZ for a loss, and I live in CA. I will be filing a state tax return in AZ. Do I also need to report the sale of that property in my CA state return?

Best answer by MichaelL1

AZ non-resident return. If you are Single, Married Filing Separately or Head of Household and your Arizona Adjusted Gross Income (AAGI) is at least $5,500 or your Gross Income (GI) is at least $15,000 you must file.

If you are Married Filing Jointly and your AAGI is at least $11,000 or your GI is at least $15,000 you must file.

So if the sale is for $15K you are suppose to file a Non-resident AZ return.  With a loss there is no tax due to AZ.

Your resident of State of CA, taxes you on "all income" so yes the sale should be on the CA return. 

1 reply

MichaelL1
MichaelL1Answer
Employee
June 6, 2019

AZ non-resident return. If you are Single, Married Filing Separately or Head of Household and your Arizona Adjusted Gross Income (AAGI) is at least $5,500 or your Gross Income (GI) is at least $15,000 you must file.

If you are Married Filing Jointly and your AAGI is at least $11,000 or your GI is at least $15,000 you must file.

So if the sale is for $15K you are suppose to file a Non-resident AZ return.  With a loss there is no tax due to AZ.

Your resident of State of CA, taxes you on "all income" so yes the sale should be on the CA return.