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Level 1
April 13, 2021

Cap gain amount to use NC nonresident return when LT losses are in Fed net taxable?

  • April 13, 2021
  • 1 reply
  • 7 views

Federal taxable capital gains total includes sale of NC property that has been reduced by long-term capital gains in arriving at net Federal taxable income?  NC property capital gain is all, obviously, related to NC. What figure do use to be in compliance with NC instruction for reporting nonresident income; i.e., gross or net Federal taxable income capital gain?

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    1 reply

    sjrcpa
    Level 15
    April 13, 2021

    Gross

    The more I know the more I don’t know.