SunTaxMan Posted March 3, 2012 Report Posted March 3, 2012 A new situation for me. Virginia resident owned residential real estate (not primary residence) in WV. RE sold in 2011. At settlement, client paid 2.5% of sale proceeds to WV as "income tax withheld." I assumed this would be used on non-resident WV return as "withholding" against tax on LTCG on sale of RE. I can find no way to enter withholding on WV return and nothing in WV instructions or web site to address this subject. Indeed, I can find no way to isolate LTCG on this RE sale as WV source income on the WV tax return. Anyone know - is this 'normal' income tax withholding' - similar to FIT withheld on W-2? Is a WV return even required to report sale, LTCG, and calculate tax on WV source income. OR - is this a stand-alone "tax" on non-resident sale of RE in WV? Thanks, Quote
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