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October 31, 2019
Question

I will move to and work in CA in 2020. I will have interest income (but no earned income) from a savings account based in NC in 2020. Do I have to file in NC or only CA?

  • October 31, 2019
  • 1 reply
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1 reply

Employee
October 31, 2019

If you move out of NC in 2020, you will have to file a 2020 NC part-year resident return only if your NC-source income exceeds the NC filing threshold for your filing status.  For the details about that, see the "part-year resident" section of this web reference:  https://www.ncdor.gov/taxes-forms/individual-income-tax/individual-income-filing-requirements

Interest income earned as an NC resident is NC-source income.

 

 

**Answers are correct to the best of my ability but do not constitute tax or legal advice.
Hal_Al
Employee
November 1, 2019

The interest you received while an NC resident will be taxable by NC. The interest you received while a CA resident will be taxable by CA.