Filing capital gain taxes?

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Filing capital gain taxes?

Do you have to file capital gain taxes. (K1 form ) with the state or only federal? Or both?

2007-04-13 04:04:25 · 2 answers · asked by ktbblb 3 in Business & Finance ➔ Taxes ➔ Other - Taxes

2 answers

Depends on how your state treats capital gains. In some states capital gains aren't considered taxable income. In some, they get special treatment as they do in federal taxes. In some, they're treated as ordinary income.

2007-04-13 04:07:51 · answer #1 · answered by Still reading 6 · 1⤊ 0⤋

capitol gains tax in illinois

2015-07-07 09:57:49 · answer #2 · answered by Bob 1 · 0⤊ 0⤋