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barnabyf
barnabyf
April 4, 2023
Question

I moved from California to another state. I had capital gains/losses, almost all in the stock market. How do I interpret the Allocating Capital Gain or Loss screen?

  • April 4, 2023
  • 1 reply
  • 0 views
This question is confusing, how do I calculate the amount? "Earned/Rec'd From CA Source as if CA Nonresident for Full Year" What's considered a CA Source and am I really supposed to imagine myself as if I'm a nonresident of CA? Help me understand, hehehe.

    1 reply

    D
    DavidD66
    April 4, 2023

    For the sale of stocks that occurred while you were living in California, allocate those gains and losses to to California.  If the sale occurred after you became a resident of another state, allocate the gain/loss to that other state.  If you sold California real estate or a business interest located in California, allocate it to California.

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    barnabyf
    barnabyfAuthor
    April 4, 2023

    Thanks for the quick response man. That's helpful, but my mind can't really twist itself around the "treat yourself as if your somebody else" thing. Can you help me figure out how to calculate that number. And now that I have images, here's the screen I'm referring to. Thanks again!

    M
    MayaD
    April 4, 2023

    CA should only be taxing you on what was received while living there.

    Enter 0 for "Earned/rec'd from CA source as if CA nonresident for full year" and for "Earned/rec'd from CA source while a CA nonresident"

    For "Earned/rec'd while a CA resident" enter the amount of stocks sold before moving out of CA.

     

     

     

     

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