Skip to main content
February 21, 2023
Question

I can not get passed the Allocating Dividend income page. I have changed the code "TSJ" and changed the income but nothing works. I don't know what it is asking for.

  • February 21, 2023
  • 1 reply
  • 0 views
No text available

1 reply

February 22, 2023

It depends on whether you are trying to allocate them to a different states or whether you are allocating tax exempt dividend income for your resident state.

 

If you received tax exempt dividends and a percentage of those were applicable to your home state your financial institution provided the percentage for your state which is entered in the federal program if you have an amount in box 12.

  • Once in your return Search (upper right) > type 1099div > click the Jump to... link > Edit under the correct dividend > Continue to enter your adjusted amount 
  • For US bond interest, other adjustments or multiple state splits  

Here are some examples for different resident states if you moved from one state to another:

  • You received 3 quarterly dividend payments while living in State 1, and the remaining dividend while living in State 2. Allocate the first 3 payments to State 1 and the last payment to State 2.
  • You sold some stocks right after you moved to State 2. Allocate the gain to State 2.
  • You closed an interest-bearing account while still living in State 1, so you'd allocate 100% of the interest to State 1.
    • On the other hand, if the account remains open, you'd allocate the interest you earned as State 1  while living there, and the remainder to your new state. 
      • An easy allocation method is to divide the year's interest by 12, and then multiply the figure by the number of months you lived in each state.
        • If you didn't have the account open all year, then use the number of months open and divide the total months open by the months lived in each state

Please update with more details if you have more questions and our tax experts can help.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"