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Updated about 1 year ago,

User Stats

258
Posts
35
Votes
Kumar Gaurav
35
Votes |
258
Posts

State tax credit implications upon sale and relocation

Kumar Gaurav
Posted

Hello

I am planning to sell my rental in nj and permanently relocate to ca by July 2024. in current year 2023 I am still a nj resident but will very likely end up being a ca resident in 2024

due to relocation.

If I sell my home before end of 2024 will I be taxed on capital gains in both states? Anything I can do to lower state tax implications on capital gains.

Appreciate your inputs

Thanks