As a Utah resident how do I report sale of California property

by Rob Seltzer, CPA, PFS

I moved to Utah four years ago from California. I recently sold a rental property in California. Do I need to report the sale in both California and Utah?

Unfortunately, the answer is yes. Because you are a resident of Utah, you will need to report it to that state. Because the property is located in California, you will need to report the sale to California as well. You will be paying tax to the state of California on whatever gain is generated by this sale.

As a CPA practicing in California, I am not an expert in Utah taxes. I do know, however, that the tax rates are lower in Utah than those in California. Utah should give you a credit for what the tax would be if the property were sold in Utah. So you should get a credit, but it would be less than what you will pay in California.

Rob Seltzer is principal of Robert Seltzer, CPA, PFS, in Beverly Hills. You can reach him at (310) 278-9944(310) 278-9944.

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