I own places in MD and PA. I shuttle between them mostly weekly. I trade my stocks during weekday in PA and during summer and winter break I am in MD and trade from there. Will I owe taxes to MD and PA both if I meet tax resident status in both. How do I determine which state I need to pay long term short term capital gains. I think last year hr and block messed up calculations and have me paid taxes both states. It's my assumption though. Before I speak with another CPA wanted to check.

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It’s based on your primary residence… so if you’re a resident of MD, then you pay MD taxes, same for PA… from a federal standpoint, it doesn’t matter…

This is why a lot wealthy people claim FL as their primary… no state taxes…

But if you have “earned income” in another state, you may be subject to their income taxes and pay taxes in both states… but investments are not considered “earned”…

smart

Doesn’t matter where you trade. Only where you live. Cannot be both.

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Seems like a question chatGPT could answer

Pick the most tax advantaged state if you can qualify for resident in both. I don’t have to pay both just wherever your primary residence is.

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