California resident sold rental property in Georgia - CA capital gains??

[Seena N.]

Hi everyone, I'm a CA resident who just sold a GA rental property that I purchased back in 2017. I thought I did all the math (Federal capital gains, GA taxes) but panicked when I realized I'd likely have to pay CA capital gains on top of these?

Does anyone have a bit of information on what rates I can expect to pay for CA capital gains?

Thanks in advance for any advice

[Sean O'Keefe]

@Seena Nassiri

I'm based in the Bay Area with a lot of clients that own rental properties out-of-state so I think I can answer this question with creditability. 

Your resident state CA will tax all of your income, including out-of-state gain. Usually, the resident state grants a tax credit for taxes paid to the non-resident state like GA. Since this was a rental you'll also pay depreciation recapture on sale. 

I'm sure you have your reasons for not considering a 1031 exchange. This is one option to consider that can help differ taxes and depreciation recapture. 
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*This post does not create a CPA-client relationship. The information contained in this post is not to be relied upon. Readers are advised to seek professional advice.