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82 year old widow, sold property in another state do they need to file taxes for the sale if the total property saleis below the amount taxes need to be paid for. if they do, in what state would they file taxes.
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the answer to this depends on the state. If someone from out of the state of New ejrsey sells a property in New Jersey, the state of New Jersey requires a tax to be paid. Each state is different. You may also be subject to federal capital gains tax on the sale proceeds. You should probably consult with an accountant.
Answered on Jan 17th, 2013 at 8:17 AM
Diana L. Anderson, Certified Elder Law Attorney This response is not legal advice and does not establish any form of attorney/client relationship