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Business & farm
The Interest income from U.S. Treasury notes is exempt from state and local income taxes but is subject to federal income tax.
What is the reason to split per States that income?
I think it should not be reported to a State, or should it?
Each state will get copy from Federal return , where the Interest income from U.S. Treasury notes is reported and taxed.
p.s. my original question remains - how to split single K-1 across multiple States without creating so many K-1 per State and per Box 1 and Box 2?
‎February 27, 2025
6:56 PM