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pjaranda2003
January 24, 2023
Question

I sold my home in CO (military PCS) and capital gains tax doesn't apply. Do I still need to file a nonresident state return? Does the profit count as income?

  • January 24, 2023
  • 1 reply
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1 reply

S
ShirlynW
January 24, 2023

Yes. You must file a Colorado income tax return if you fall into one of these categories:

  1. During the year you were a full-year, part-year or non-resident of Colorado with Colorado taxable income AND you were required to file a federal income tax return.
  2. You had a Colorado income tax liability for the year.

Yes. The profit from the sale of a home is income. The excess is reported as capital gain.

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