Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Your taxes, your way. Get expert help or do it yourself. >> Get started
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
serenity7746x
New Member

Social security and pensions checks are deposited in a bank in a state I no longer live in.

Will I have to file tax returns in the state where my social security and pensions are deposited if I no longer live there?
1 Best answer

Accepted Solutions
rjs
Level 15
Level 15

Social security and pensions checks are deposited in a bank in a state I no longer live in.

If you didn't live in the other state at any time in 2016, you will not have to file a tax return in the state where your bank account is. Money deposited in a bank account in another state is not considered income from that state.

However, it's not clear when you moved. If you lived in the other state for part of 2016, you will have to file part-year resident returns for both the old state and your new state (assuming both states have state income tax).

View solution in original post

3 Replies
rjs
Level 15
Level 15

Social security and pensions checks are deposited in a bank in a state I no longer live in.

If you didn't live in the other state at any time in 2016, you will not have to file a tax return in the state where your bank account is. Money deposited in a bank account in another state is not considered income from that state.

However, it's not clear when you moved. If you lived in the other state for part of 2016, you will have to file part-year resident returns for both the old state and your new state (assuming both states have state income tax).

serenity7746x
New Member

Social security and pensions checks are deposited in a bank in a state I no longer live in.

If I don't live in that state in the future will I have to file a tax return for the interest I earn on the account? It would be very little interest as the money deposited is used to pay bills through the banks on-line bill paying service.  The state where my bank is, is New York I now live in Georgia.
rjs
Level 15
Level 15

Social security and pensions checks are deposited in a bank in a state I no longer live in.

You will not have to file a New York tax return in the future. Investment income, including bank interest, is considered income from the state that you live in, no matter where the account is located.

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.49m
Members

2.63m
Discussions

Manage cookies
v