CA tax liability as a non resident real property owner
I purchased a home in 2007 for 775k. I lived in the home for two years. I then moved out of state but rented the property for over ten years. I just sold it for 885k. CA requires a "withhold" amount, ( if any), until I file a CA form 998NR next tax season. I believe I am exempt from this " withhold" amount due to depreciation, expenses, closing costs, etc. Any thoughts?
