Form N-103 Sale of Your Home - Hawaii

What Is Form N-103?

This is a legal form that was released by the Hawaii Department of Taxation - a government authority operating within Hawaii. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form N-103?
A: Form N-103 is a tax form used in Hawaii to report the sale of your home.

Q: Who needs to file Form N-103?
A: You need to file Form N-103 if you have sold your home in Hawaii.

Q: What information is required on Form N-103?
A: Form N-103 requires information about the sale price, purchase price, and any improvements made to the home.

Q: When is Form N-103 due?
A: Form N-103 is due on April 20th of the year following the sale of your home.

Q: Are there any exceptions to filing Form N-103?
A: Yes, there are certain exceptions to filing Form N-103, such as if the sale of your home does not generate a gain or if you qualify for the home sale exclusion.

Q: What is the home sale exclusion?
A: The home sale exclusion allows certain individuals to exclude up to $250,000 (or $500,000 for married couples filing jointly) of gain from the sale of their primary residence.

Q: Can I e-file Form N-103?
A: No, Form N-103 cannot be e-filed. It must be filed by mail with the Hawaii Department of Taxation.

Q: Can I get an extension to file Form N-103?
A: Yes, you can request an extension to file Form N-103 by filing Form N-101CP.

Q: What are the penalties for late filing of Form N-103?
A: The penalties for late filing of Form N-103 include a 5% penalty per month, up to a maximum of 25% of the tax due.