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Brythan
Brythan
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I am planning to move to Texas early 2018. If I lease my CaCalifornia principal residence for 9 months, while waiting for my new home in Texas to be built, and then sell the CaCalifornia house 9 months later, will I pay Texas capital gain tax or California capital gain tax? I anticipate to make a huge capital gain tax on caCalifornia residence (approx. $700,000) and I can only shelter $250,000 as a single tax filer.

I am planning to move to Texas early 2018. If I lease my Ca principal residence for 9 months, while waiting for my new home in Texas to be built, and then sell the Ca house 9 months later, will I pay Texas capital gain tax or California capital gain tax? I anticipate to make a huge capital gain tax on ca residence (approx. $700,000) and I can only shelter $250,000 as a single tax filer.

I am planning to move to Texas early 2018. If I lease my California principal residence for 9 months, while waiting for my new home in Texas to be built, and then sell the California house 9 months later, will I pay Texas capital gain tax or California capital gain tax? I anticipate to make a huge capital gain tax on California residence (approx. $700,000) and I can only shelter $250,000 as a single tax filer.

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Chris W. Rea
Chris W. Rea
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cf2017
cf2017
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Capital gain treatment when moved to a no state income tax like Texas

I am planning to move to Texas early 2018. If I lease my Ca principal residence for 9 months, while waiting for my new home in Texas to be built, and then sell the Ca house 9 months later, will I pay Texas capital gain tax or California capital gain tax? I anticipate to make a huge capital gain tax on ca residence (approx. $700,000) and I can only shelter $250,000 as a single tax filer.