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March 26, 2025
Question

How do I determine what transactions are taxable or not taxable in PA ?

  • March 26, 2025
  • 1 reply
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The PA tax return has a Schedule of Gains/Losses form. It's asking what transactions are taxable or not taxable. How do I determent this?

    1 reply

    April 2, 2025

    If you're a Pennsylvania resident, most likely your gains are taxable in PA.  If you indicated you're a Part-Year resident, you'll need to allocate gains/losses according to the amount of time you lived in PA.

     

    Divide the total by 12, the multiply by number of months lived in PA.  Here's more info on How to File a Part-Year Resident Return.

     

    If this doesn't apply to you, and you're wondering how gains/losses are taxed in PA, resident taxpayers must report all gains and losses on the sale, exchange or disposition of property regardless of where the disposition occurred. Therefore, all transactions displaying net gains and losses are reported on PA Schedule D. 

     

    Here's more detailed in from the Pennsylvania Dept. of Revenue.

     

    @jkrantz