Skip to main content
October 2, 2024
Question

Land Sale in Texas but reside in Oklahoma

  • October 2, 2024
  • 2 replies
  • 0 views

I reside in Oklahoma, I recently sold land in Texas. Do I need to pay Oklahoma Income tax on the profit from this sale?

 

If Yes, what is the tax rate on the profits?

 

I am a disabled veteran is there any wavier for paying taxes on Capital Gains for Federal Tax or Oklahoma Tax on property sales out of state?

2 replies

Employee
October 2, 2024
DoninGA
Employee
October 2, 2024

No, there is not an income exclusion for the sale of property at a gain on either on a federal or Oklahoma tax return if you are a disabled veteran.