I just received an additional 1098 for a vacation home I purchased in North Carolina. In addition to adjusting my fed return do I need to do anything with state?

[lisajudith1970]

My primary residence is in NJ, will I need to add a NC state return?

[DanielV01]

Unless you earned money in North Carolina or lived in North Carolina, you do not need to file a North Carolina return just for purchasing a house there.

[lisajudith1970]

Hi Daniel,

Appreciate your response.

Do I need to amend my New Jersey state return or just my federal?  

Thank you,

Lisa

[DanielV01]

Best answer is that if you add the 1098 information and either your Federal or your New Jersey tax amounts change, then amend them.  If they stay the same, there's no need to amend.  If one changes but not the other, then amend the one that changed.

You will only have an impact on your return if you are itemizing deductions, and the additional mortgage interest increases the amount of deduction.  This would lead to additional refund.