I moved from Georgia to Florida in May 2024. Just started Turbo Tax and on Schedule 3, 100% ratio is allocated to Georgia. Should the investment income (capital gains, interest and dividends) be allocated according to the time lived in each state? How to correct it? Thanks.
You can allocate your investment income based on where you lived when you received it. When you go through the part-year resident return (link has instructions), TurboTax will ask you how much of the total investment income belongs to Georgia. Enter the amounts you received from Jan - May, while you were a resident of GA.
Allocating unearned income is pretty straightforward: just allocate it to the state you were a resident of when you received it. There are some examples in this TurboTax FAQ.
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