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January 19, 2023
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Sale of rental property in another state

  • January 19, 2023
  • 1 reply
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If I had long term capital gain in Massachusetts shouldn't I only be taxed on Federal and MA returns?  I live in Maine and pay taxes on income here but will the MA based capital gain be taxed twice?

 

    Best answer by Anonymous_

    You have Massachusetts source income (gain) so you need to file a Massachusetts return.

     

    However, you should get a credit on your Maine return for any tax you had to pay to Massachusetts. 

    1 reply

    Employee
    January 19, 2023

    You have Massachusetts source income (gain) so you need to file a Massachusetts return.

     

    However, you should get a credit on your Maine return for any tax you had to pay to Massachusetts.