I'm hoping there is a quick answer to this question, but if the experts think we need to consult an accountant, please share that as well.
We are selling a vacation home in Oregon, and currently live in California. If you are not a resident of Oregon, it appears you need to file a tax form at closing, & pay the Oregon capital gains. However, there is also a check box option for an exemption to this process...
"Transferor is a resident of Arizona, California, Indiana, or Virginia, and expects zero Oregon tax because of credit for taxes paid to their home state."
I've done some Googling, and am still unclear if I should first pay OR at time of closing, & then receive a credit from California, or if the reverse is true, & I should check the box for an exemption to paying in Oregon, because I will pay California on 4/15.
Thoughts?