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    holtermom's Avatar
    holtermom Posts: 3, Reputation: 1
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    #1

    Mar 30, 2009, 10:13 AM
    Paying taxes on property sold
    About 35 years ago my husband inherited a piece of land in Montana which he sold in 2008. WE live in Wisconsin. Do we pay a tax on this for 2008 taxes and how do I list it on the tax form? Is it called income for Wisconsin? And do I list it on the Federal form and Wisconsin form?
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #2

    Mar 30, 2009, 11:04 AM

    You should not start a new thread to ask a follow up question. Your original post and my answer are here:

    https://www.askmehelpdesk.com/taxes/...ce-335709.html

    As for your state income tax question - you should owe MT tax since that's where the property is located. You must also report this sale to WI (your home state), and take a credit for any tax you had to pay MT for the capital gain.
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