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Level 6

How to split up dividend income when you moved to a new state?

I moved from NY to NC in April of last year. I was living in NY for the first 3 months of the year. Throughout the entire year I earned about 4k in dividends from various investments. On the state tax portion of TurboTax, it's asking me to to specify how much of that 4k was made while living in NY. How do I calculate this? I only know what my 1099-DIV forms tell me, and that's the total dividends for the whole year. Do I just enter 25% of my dividend income since I only lived in NY 25% of the year?

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Accepted Solutions
Employee Tax Expert

How to split up dividend income when you moved to a new state?

Yes use a percentage for the dividends for each state if you only have a total for the year.  If you can show that you received the dividends while in one state or the other you can use the exact amount, but if a yearly total, the percentage method is proper.

1 Comment
Employee Tax Expert

How to split up dividend income when you moved to a new state?

Yes use a percentage for the dividends for each state if you only have a total for the year.  If you can show that you received the dividends while in one state or the other you can use the exact amount, but if a yearly total, the percentage method is proper.