Sale Of Investment Property In Another State
live in GA, sold investment property in ME. I understand the capital gains tax implications, but not sure about the ME state taxes and how to file. ME withheld some taxes when the property was sold, now I assume I file GA state taxes, federal and ME state but what forms for ME? Do I use info from my federal for the ME form or do I only report the sale of the ME property on the ME tax return? If I made 10k on the sale is htat all I show and pay taxes on 10k? Do other losses come into play with the ME return? Perhaps it's best if I contact H&R..
Go to the Maine Revenue Services website and download the tax forms and instructions. They will answer your question. While 2002 forms are on the website now, the 2003 forms should be on the site by January.
http://www.state.me.us/revenue/forms/2002forms.html