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We live in SC and sold our home in CT at a loss - do we need to file anything in CT?

Forum|Forum|5 years ago
February 19, 2021
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We moved out of CT in Nov 2019 and sold our CT house at a loss in June 2020.

We have no CT earnings or income from CT. (We live in SC).

1) Since there are no capital gains on the house do we need to file a CT Non-resident form? Don't think so - but wanted to make sure.

2) Are the sale proceeds taxable income in SC?

Thanks!

Best answer by ColeenD3

No, not unless you received a Form 1099-S reporting the sale. If there is no gain, there is no income to report.

A part-year resident's total income during his or her period of residency and his or her Connecticut source income during his period of non-residency are subject to Connecticut income tax. (Connecticut source income of a nonresident is defined in the instructions to Form CT-1040NR/PY.) A part-year resident is also subject to Special Accrual Rules.

ColeenD3Answer

No, not unless you received a Form 1099-S reporting the sale. If there is no gain, there is no income to report.

A part-year resident's total income during his or her period of residency and his or her Connecticut source income during his period of non-residency are subject to Connecticut income tax. (Connecticut source income of a nonresident is defined in the instructions to Form CT-1040NR/PY.) A part-year resident is also subject to Special Accrual Rules.