Skip to main content
February 8, 2025
Question

I retired on 4/1/23, and moved from Indiana to Florida. Company paid out profit sharing on 3/15/24, for year 2023, deducted Ind state & local taxes. Do I get all $ back ?

  • February 8, 2025
  • 2 replies
  • 0 views
Turbo Tax deluxe only gives part of my Indiana state and local $ back. Shouldn't I get all Ind $ back since I did not live or work in Indiana 2024 ? How do I do that ?

    2 replies

    February 8, 2025

    It's not likely you would receive all of your tax dollars back.  Indiana (IN) requires you to file if the income you received while a nonresident is from IN sources.

    • IN Nonresident Filing Requirements: If you were a full-year nonresident of Indiana, but received any income from Indiana sources, you must file your Indiana income taxes.

    If you were a legal resident of another state(s) and had income from Indiana (except certain interest, dividends, or retirement income), you must file Form IT-40PNR.

     

    If the profit sharing is not retirement then you must file and pay tax on that income to IN.  

     

    Retirement income rules: Federal legislation enacted January 1, 1996 prohibits any state from taxing pension payments made to a resident of another state.

     

    Since Florida (FL) does not have any state income tax, there is no credit that would be allowed for your taxes that may be paid to IN.

    **Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"
    mt5528Author
    February 9, 2025

    DianeW777, thanks

    I am still confused. When I include my profit sharing as Indiana income, TurboTax says this entry should be 0, since I did not live, or worked in Indiana in 2024. Or is all that matters that Indiana was the source of income ?. If that's the case, than TurboTax has a software issue here ! Should I just ignore highlighted problem ?