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Retirement tax questions
I am also wondering about allocating traditional IRA deductions. I lived in two states, IL (6.5 months) and FL (5.5 months). I made the contribution ($6,000) while in FL, but FL does not have income tax, therefore would not benefit me as a deduction.
It seems that TurboTax might have split it evenly between the two states without asking me to define allocation. Is it illegal to allocate all and thus deduct all from IL, since I am not double deducting, but simply maximizing my deduction? Is it really possible that since I made the contribution while in FL I cannot use this as a state deduction, but only benefit from it on my federal taxes?
If someone could point me to the IRS.gov publication that outlines this I would be greatly appreciative!
Thank you