Hi, I will be moving from WA to CA, I have gained about 40% in stock market over past 2 years, I am trying to understand if I should sell all my stocks before moving to CA to save on state income tax? Has anybody done this before?
Yes, sell your stock while a WA resident unless you like sharing the wealth with the public sector unions.
Sell now. Buy back once you move to CA
Maybe consider selling some, but if you were planning on holding forever there isn't much of a reason to do so. What you do want to do is do Roth conversions and cashing out RSUs if you were going to rebalance. I plan on temporarily relocating to a low tax state someday to cash in some capital gains and Roth conversions.
I did not get the cashing out RSU part, that is same as stock right?
Yea it is sorry