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June 5, 2019
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Capital Gains Taxes on Stocks in two states

  • June 5, 2019
  • 1 reply
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I sold stocks in January 2017 when I lived in Georgia.  I moved to Maryland in June of 2017.  I want to pay the capital gains tax in Georgia, not Maryland yet whatever I do, TurboTax adds the capital gains to my Federal Adjusted Gross income on the Maryland return and on the Georgia return.  How do I exclude it from Maryland?

Best answer by HelenaC

You will be able to adjust the taxable amount on the Maryland state income tax return. Continue with the Maryland state income tax onscreen interview until you get to the Additional Info for Part-Year Residents screen. Enter the amount of gain in the Non-Maryland Income box.

Additional information: How do I allocate (split) income for a part-year state return?

1 reply

HelenaCAnswer
Employee
June 5, 2019

You will be able to adjust the taxable amount on the Maryland state income tax return. Continue with the Maryland state income tax onscreen interview until you get to the Additional Info for Part-Year Residents screen. Enter the amount of gain in the Non-Maryland Income box.

Additional information: How do I allocate (split) income for a part-year state return?