Important!

Dec. 31 is the deadline to apply for the Tax Year 2022 Working Families Tax Credit and get up to $1,200 back. Apply by Dec. 31 at wftc.wa.gov.

El 31 de diciembre es la fecha límite para solicitar el Crédito Tributario para Familias Trabajadoras del año fiscal 2022, y recibir un reembolso de hasta $1,200. Aplique antes del 31 de diciembre en wftc.wa.gov/es.

  1. Home
  2. Taxes & Rates
  3. Other Taxes
  4. Capital Gains Tax
  5. Do You Owe Capital Gains Tax?

Do you owe capital gains tax?

Subscribe to receive email or SMS/text notifications about the Capital Gains tax.

For each tax year (calendar year), these questions can be used to help you determine if you may owe Washington state capital gains tax. This questionnaire is for informational purposes only and is not binding upon the department.

Reporting to the IRS

  • Did you report long-term capital gains on your federal income tax return on Schedule D for this year?

If you answer Yes to the above question, please continue to the Assets and Domicile section.

Assets and Domicile

  • If the long-term capital gains were from selling intangible assets, were you domiciled in Washington state at the time of sale (was Washington your permanent home at the time)?
  • Did you report long-term capital gains from selling tangible personal property that was located in Washington when it was sold?
  • Did you live in Washington State for more than 183 days during the taxable year?

If you answered Yes to any of the above questions, continue to the Amount section.

Amount

  • Was your amount of Washington state long-term capital gains more than the standard deduction after all exemptions, such as real estate or investments held in individual retirement accounts? If yes, see RCW 82.87.050.

Updated Amounts

Tax Year 2022 2023 2024 2025 2026
Standard Deduction 250,000 262,000 270,000 278,000 290,000
Charitable Donation Threshold 250,000 262,000 270,000 278,000 290,000
Max Deduction Amount 100,000 105,000 108,000 111,000 116,000
QFOSB Max Income 10,000,000 10,480,000 10,790,000 11,095,000 11,578,000