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mskenzie6
New Member

I am a resident of Virginia, but a full-time college student at a school in New York, and I have a part-time job at my college. Has my income been allocated to New York?

 
2 Replies
DS30
New Member

I am a resident of Virginia, but a full-time college student at a school in New York, and I have a part-time job at my college. Has my income been allocated to New York?

It depends.

Since you are considered a permanent resident of VA and are only in NY temporarily for school, you will need to file as non-resident for NY (for your NY source income only - your NY wages). You will also need to file a VA resident state tax return (for all income from all sources including NY wages). You will get a state tax credit in VA for any NY state taxes that you paid on your nonresident NY state tax return.

You will want to work on your non-resident NY state tax return first. You will then take a tax credit from your non-resident NY taxes on your resident VA state tax return. (Please note that you will only get a tax credit for your NY taxes up to the amount of VA taxes that would have been paid if the income was earned in VA). 

Some additional information about NY state income taxes:

NY taxes all the income reported when calculating NY state income taxes (whether resident, part-year resident or nonresident) but you will only be required to paid a portion of the total NY state income taxes calculated (your percentage of the total NY tax that relates to your NY source income only)

The way that the NY state income tax return works is that NY looks at all of your income from all sources and generates a total NY state income tax on all income. When NY is determining the actual NY state income taxes that you owe, NY multiples the total NY taxes on all income by the percentage of NY source income over all source income. So if all your income is $10,000 but NY source income is $8,000, NY will calculate the NY state income tax on $10,000 then multiply this total tax by your NY source income over total income ($8,000/$10,000) to get your percentage of NY state income taxes on your NY source income. So in this instance, your NY state income tax liability would be 80% of the total amount of NY taxes generated (on all income). That is why all your income is being reported on your NY state tax return.

You can preview your NY Tax summary to see what portion of the total taxes for NY you are actually paying

To preview NY Tax Summary:

  • TurboTax Online sign-in, click Here
  • Under Tax Timeline, click on Continue your return
  • Go to "My Account" > "Tools"
  • Under the Tools Center, select "view tax summary"
  • Select "NY Tax Summary"

Just follow the TurboTax guide when working on your states (remembering to do your non-resident state return first) and TurboTax will do all the calculations and credits to your resident states return

Here is additional information about filing in multiple states (select "see more answer" to view the entire attachment)

 

https://ttlc.intuit.com/replies/3300797


kulmayk
Returning Member

I am a resident of Virginia, but a full-time college student at a school in New York, and I have a part-time job at my college. Has my income been allocated to New York?

Ignore this - wrong post reply!

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