Question

Spliting interest earned in two states of residnecy

Forum|Forum|6 years ago
February 7, 2020
1 reply
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My daughter was a resident in two different states during 2019. There was interest earned from several accounts during the year. As I read the tax code, the interest needs to be split between the two states. How do I split the interest earned using the turbo tax program

TurboTax Home & Biz Windows

ColeenD3

It depends. If the interest was generated the entire year, it has to be prorated. If it was earned exclusively in one state, then it is taxable to that state alone.

L

lnovotneyAuthor

Yes and no. I asked two questions. Did interest earned over the year need to be split between two states of residency. That was answered. The second question was how to show this in turbotax. After working the issue within the state return, I believe I have figured out how to split the funds.

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