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January 15, 2025
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If I have a CD from a state other than the state that I reside in, is that considered "Income from another state"?

  • January 15, 2025
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I live in TN, however I have a CD from a credit union that I earned interest on that is located in IA. Is that considered "Other state income"?
    Best answer by rjs

    No, interest from a credit union account is not income from another state. Income from an investment account, such as a CD, is considered income from the state that you live in, no matter what state the financial institution is located in.

     

    1 reply

    rjs
    rjsAnswer
    Employee
    January 15, 2025

    No, interest from a credit union account is not income from another state. Income from an investment account, such as a CD, is considered income from the state that you live in, no matter what state the financial institution is located in.