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May 16, 2019
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Is this correct usage of capital gain for state of Wisconsin?

  • May 16, 2019
  • 1 reply
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Lived in Wisconsin and sold Michigan property in 2018. State of Wisconsin is applying capital gain information from Michigan. Is this correct or should it only be on federal and Michigan state form?

    Best answer by Anonymous_
    Look at the return where you are a resident and you should see a credit for the taxes paid to the other two states

    While TT suggests doing the non- resident first, I can’t imagine it really matters .... the software recalculates every time you change an input ... and.... if there software was calculating incorrectly, their guarantee would kick in for an incredible number of users who file in multiple states.... could be over a million!

    I am actually surprised TT states the order as much of the information is filled in every time you enter a document .

    Low risk and if it is wrong, TT would cover penalties and interest

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    1 reply

    May 16, 2019
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    May 16, 2019

    if you are using TT for the two state returns, TT should handle this automatically 

    May 16, 2019
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