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September 10, 2021
Question

Tax on sale of condo in a different state

  • September 10, 2021
  • 1 reply
  • 0 views

I live in Colorado,

I am selling a condo in florida and have a long term capital gain

 

Why would colorado be taxing that sale

 

 

    1 reply

    Critter-3
    September 10, 2021

    Sorry to tell you but your resident state has the right to tax ALL your income from all sources just like the feds.   If you paid income taxes on the sale in the other state then CO would give you a credit for those taxes paid  but  since FL doesn't have a state income tax there is nothing to give you a credit for.