cientax Posted July 3, 2008 Report Posted July 3, 2008 I have a client that lives in New Mexico, moved there from Texas early last year. She has investments such as stocks but nothing else and reinvests. investments are with a firm based in CA but Schwab issues the 1099B also located in CA. The firm she used for her 2006 tax return prepared and filed the California 540 NR along with her federal 1040. She did not live in CA for any part of 2006 or 2007. Is she required to file the California tax return? She does not own any property there and does not have any other transactions there other than the investments of stocks. Quote
jainen Posted July 3, 2008 Report Posted July 3, 2008 >>filed the California 540 NR<< This form will identify what the tax preparer determined to be California-source income. Generally portfolio income should be sourced to the state of residence. Quote
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