An out-of-state home sale will result in a credit for state taxes paid.
Q. I sold my shore vacation home in 2021 and realized a profit of about $200,000. I paid the exit tax prepay of 2% at closing. I am a resident of Wisconsin.
I understand that I need to file a NJ non-resident return to determine my actual tax. Do I need to pay the capital gains tax on my New Jersey vacation home also in Wisconsin? I mean do I need to double pay?
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