Skip to main content
TurboTax
Community
TurboTax
Community
TurboTax
Community
C
Chas56
March 24, 2023
Question

Out of state land sale

  • March 24, 2023
  • 1 reply
  • 0 views

I am a VA resident who has recently sold inherited property. I have a 1099-S from NC. Do I need to file a NC tax return? VA will tax me on the capital gain.

1 reply

M
MAK70
March 24, 2023

Yes, because the land was located in North Carolina, you would most likely have to file a return there.  You are correct, also that you are taxed by Virginia-- but Virginia will give you a credit for any taxes you pay to NC so you will not be double-taxed at the state level for the same income.

C
Chas56Author
March 27, 2023

Thanks much, that resolved my problem.

TurboTax Sign In Widget
TurboTax flag icon

Unlock tailored help options in your account

Create an account
TurboTax Expert Assist
TurboTax Expert

Get answers to all your tax questions

Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

Terms & ConditionsAccessibility statement
Intuit
TurboTax Credit Karma QuickBooks MailChimp

©1997-2022 Intuit, Inc. All rights reserved.
Intuit, QuickBooks, QB, TurboTax, ProConnect, and Mint are registered trademarks
of Intuit Inc. Terms and conditions, features, support, pricing, and service options
subject to change without notice.

Security Certification of the TurboTax Online application has been performed by
C-Level Security.

By accessing and using this page you agree to the Terms of Use.

Accessibility

TRUSTe nResult Certified e-File C-Level Security Certification