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QUESTION DETAIL

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I have lived in Colorado for 14 years and pay taxes. If I buy a fix and flip house in California, and still reside in Colorado, do I owe income tax on the capital gain to California?


ANSWER


Expert Mark Anderson's Answer:

Yes.  You must pay capital gains to the state where you sell the home.  I hope this answers your question. 

Mark Anderson, JD

Montana

21 yrs experience

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