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February 7, 2024
Question

Wrong "Federal Amounts (All Sources)" from New York

  • February 7, 2024
  • 1 reply
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I moved from NY to Minnesota

Currently at the "Part-Year City Itemized Deductions" section of the NY tax application.

Under [Taxes You Paid] the Federal Amount ("All sources") is a wierd number that isn't close to the combined federal taxes I paid while in NY and Minnesota. It's actually roughly half. How do I find out where in my application things went wrong?

1 reply

LindaS5247
February 11, 2024

If you entered all of your information properly into Turbo Tax and followed all of the subsequent prompts, TurboTax will calculate this amount for you.

 

Part-year residents follow each state's rules. Some states separate ‌income, and tax only their state's income. Or a state may calculate the tax on all of the income as if you were a resident, and then allocate the tax based on in-state sources as a percentage of all sources.


Minnesota residents pay state taxes on income earned inside and outside of Minnesota. If you paid income taxes to both Minnesota and another state on the same income, you may qualify for a credit for the tax paid to the other state.


You should be preparing your New York State NonResident Tax Return first so the credit will be properly calculated. You may have to prepare both state tax returns to see exactly how everything was calculated.  And then preview your returns to see your numbers before filing.

 

You can preview your tax return in TurboTax. This way you can see how your credit was determined.

 

You can preview your return in the TurboTax Desktop software by following these steps:

 

  1. With your return open in TurboTax, select Preview from the File menu at the top. (If you don't see "Preview," open your return, not just the program).
  2. In the pop-up window, choose the set of forms you wish to see (all official forms, specific forms, etc.) and select Preview.
  3. Scroll down to view all the forms if you choose to preview multiple forms.


You can view your entire return or just your 1040 form before you e-file i you are using TurboTax Online: 

 

  1. Sign in to your TurboTax account.
  2. Open or continue your return.
  3. Select Tax Tools from the menu (if you don't see this, select the menu icon in the upper-left corner).
  4. With the Tax Tools menu open, you can then:
    • Preview your entire return: Select Print Center and then Print, save or preview this year's return (you may be asked to register or pay first).
    • View only your 1040 form: Select Tools. Next, select View Tax Summary in the pop-up, then Preview my 1040 in the left menu.

 

Click here for additional information on completing Multiple State Tax Returns.

 

 Please feel free to come back to TurboTax Community with additional information or questions or click here for information on Turbo Tax Support. 

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