California resident sold a property they owned in PA. They will be paying PA income tax on the sale of this property. Is there a credit from CA for the amount of taxes paid to PA. Is this property taxable also to CA, since they are CA residents? Thanks for you help. Kate, EA in PA
CA question
Apr 01, 2010
1 Replies
Hey, Kate, I think this is the first time in a long time that I've answered one of your posts here (I have neglected the site for quite some time)! Yes, California has a credit for the lower of the PA tax on the sale or the CA tax on the same sale. You'll use CA Schedule S.
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