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South Carolina Other Additions
This HELP sentence from Turbotax is what is confusing me.
"Expenses deducted on the federal return related to any income either exempt or not taxed by South Carolina such as investment interest to out-of-state partnerships and interest paid to purchase United States obligations."
Answer: Since the income was reported on the Federal return, it is already being taxed by South Carolina. IE. it was not exempt from SC taxes. Hence, those expenses do not need to be added back.
a week ago