Mortgage interest and property tax

Forum|Forum|7 years ago
March 8, 2019
1 reply
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I purchased a house in MN and moved into it from WI in July 2018. But when I am adding my mortgage interest and property (real estate) taxes, TT seems to increase my WI refund but should it not increase my MN refund since my house is in MN? I checked my info and my move in date and that I was a MN resident on 12/31/2018 are all entered correctly. Am I missing something here? Thanks a lot for your help.

Deductions

N

NCPERSON1

personally, I wouldn't worry about it. Presumably you are using Turbo Tax (and paying them!) because you trust they know how this all works!!

I did a quick look at the WI form and there is no adjustment for interest on a primary home outside of MN on the non-resident form. WI takes a ratio of state income to federal income when determining how much tax is owed WI (and you should get that same tax as a credit on the MN return)... somewhere in all that math, I suspect the ratio changes and causes the tax owed to WI to change.