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Sale of Real Estate Outside California by California Resident

October 20, 2016 • Anonymous • Log In to Post Comments

A California resident is a partner in a partnership prospectively selling partnership owned real estate in Michigan. The partnership apportionment formulas on Schedule R apportion none of the capital gain to California. The partnership files a composite return to allocate the MIchigan tax among the partners. Should this gain be excluded in California on Form CA-540?





No, the gain goes on the return of the California resident. If there is MI tax paid, the t/p will get a credit for tax paid to MI.


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