A deduction that relates to Idaho capital gains is explained in this LINK. Qualifying property Gains from the sale of the following Idaho property qualify for the capital gains deduction: Real property. The property must be held for at least 12 months and sold on or after January 1, 2005. Real property sold before January 1, 2005, must have been held for at least 18 months. For purposes of this deduction, "real property" means land and includes easements, grazing permits, and any other property defined in section 1250(c) of the Internal Revenue Code.

Question

Idaho capital gains deduction for sale of property. We sold a ranch property in 2021. We are Idaho residents and the property is in Idaho. How do I find out of the capital gains deduction applies to our sale?

Forum|Forum|4 years ago
March 21, 2022
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ColeenD3

A deduction that relates to Idaho capital gains is explained in this LINK.

Qualifying property

Gains from the sale of the following Idaho property qualify for the capital gains deduction:

Real property. The property must be held for at least 12 months and sold on or after January 1, 2005. Real property sold before January 1, 2005, must have been held for at least 18 months. For purposes of this deduction, "real property" means land and includes easements, grazing permits, and any other property defined in section 1250(c) of the Internal Revenue Code.