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Example needed for splitting capital gain/loss by state.

Forum|Forum|7 years ago
June 1, 2019
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Maybe I'm dim but I don't understand TurboTax's response to my input.
Assume I sold XYZ stock in November 2018 and had a gain of $1,619. I moved to another state in August.
TT copies from the Federal tax section the description, date acquired, date sold, and total gain/loss. I then enter that amount in the first box "Earned/rec'd from CA source as if Nonresident for full year". (Why that's even needed is unclear too but so be it.)
Allocation type is set to DATE - Allocate Based on Date Sold.
The CA Tax Due on the top increases by $160.
Since I sold this while no longer living in CA, I enter 0 in the "while CA resident" and the full 1619 in the "while CA NR" box.
To my surprise the CA Tax Due does not decrease?
In fact, even when entering for example 619 while CA and 1000 while NR, which is not factual, the CA Tax Due stays the same?? Regardless of entered split values, tax due remains the same?
I would assume that this gain would not be taxed at all in CA but instead in my new home state? What am I doing wrong?

Your guidance is appreciated!

TurboTax Premier Windows

Best answer by Zbucklyo

One error is including the gain in the Earned/Received from CA sources as if Non-resident for full year. That should be zero, since if you were a CA non-resident all year, this would not be CA source income. This could be the entire problem.

Z

ZbucklyoAnswer

Employee

One error is including the gain in the Earned/Received from CA sources as if Non-resident for full year. That should be zero, since if you were a CA non-resident all year, this would not be CA source income. This could be the entire problem.

P

pkrabbendamAuthor

Sorry but it's still not clear.
I lived in CA until August, and sold this stock in November.
To reiterate, I was not a NR all year, only from August through December (unless my interpretation of a NR is wrong).
Can you provide the exact values to enter in the "as if NR full year", "while CA resident" and "while CA NR" boxes?
My interpretation --clearly incorrect- is 1619, zero, and 1619 but as said, doing that *does* add to my CA taxes.