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Question

NYC 1127 taxes

Forum|Forum|2 years ago
March 16, 2024
2 replies
0 views

I am an employee of NYC who lives outside of NYC and is subject to the payment of NYC 1127 taxes. While it is clear that my W2 wages earned from my employment with NYC is subject to these taxes, intuitively any interest owed on my personal savings account should be excluded from these taxes. However, Turbo Tax is including this amount in the total that is used to determine the amount of NYC 1127 taxes owed. Is this interest subject to NYC 1127 taxes and, if not, how should this be entered into Turbo Tax to exclude this interest income?

Employee

You pay as if you lived in the City.

https://portal.311.nyc.gov/article/?kanumber=KA-02645

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