topic Re: Need help filling in Get your taxes done using TurboTax

Need help filling

valisa23 — Fri, 27 Mar 2020 07:22:48 GMT

Re: Need help filling

LeonardS — Fri, 27 Mar 2020 15:48:13 GMT

What do you need help with? Post a reply to this thread with what you need help with for assistance.

Re: Need help filling

Khickman2 — Mon, 30 Mar 2020 17:09:01 GMT

I am being asked to allocate federal deductions to income made in NYC. The income being referred to is my student loan interest. I have never had this issue. My student loan interest is not income, it is something I've incurred while being on deferment. I was a part time resident of NYC until February 2019. Since February I lived in North Carolina. I was not asked this question when it came to North Carolina. Please advise.

Re: Need help filling

DaveF1006 — Mon, 30 Mar 2020 18:33:25 GMT

The reason NYC is asking the question is that student loan interest is an income adjustment. In the allocation screen, it is asking you if you wish to allocate this adjustment to NYC. You would only allocate the portion of the adjustment while to were a resident of NYC. To allocate it properly, you would take the total amount of the student loan interest and divide by 12 to get that one month's interest amount while living in NYC.