Hi,
I moved to North Carolina in mid 2021 and calculated my interest and dividends after my move date and attributed the income to North Carolina. Here is what I did:
On my state return, under Part Year and Non Resident Income, i went to Wages and Allocation where it showed the numbers from my W2. I clicked on Continue and it asked for Part year Resident Income allocation which showed my income reported on the Federal return i.e. Interest, Dividend, IRA distribution etc. I entered the proportionate income (based on dates) under NC Resident Income column and clicked Continue.
On the NC form D-400 on line 13, it calculates a part year residents and nonresidents taxable percentage and then calculates tax based on that number. How is that amount calculated and why not the actual amount is used from my W2 and other gains and losses? In the subsequent sheet D-400 Sch PN it does show the actual W2 and gain/loss amounts though. Why this difference?
And the Part year resident income sheet has a column for Capital Gain (Loss)- should i enter both short and long term loss there after adding the two?
I remember it asked for rental income in one questionnaire and I had entered zero since I was making an unallowed loss, so i entered zero. IS that right?
Where do I enter the passive losses to carry over for the state return?
Thanks,
