Hi,
On my 1099-DIV, I've input an amount from U.S. government obligations. I'm filing in both NYS (resident) and MA (nonresident).
My understanding is that NYS only allows subtraction of interest income from investments that meet certain criteria. MA allows the full amount. I have both the full MA and smaller NYS amounts at hand. Let's say the full amount is $1,000 and the NYS-allowable amount is $750.
How do I adjust the NYS amount (in TurboTax online) so that I can report that lower amount properly while still getting the full amount on the MA return? (Or vice versa in terms of which one to adjust.)
The only way I can think of is to report the NYS amount on the federal input, which flows to NYS) Then, in the MA nonresident return, include the difference as "Other Interest and Dividends to Exclude" and describe it as "Additional U.S. government obligations" or something like that. There doesn't seem to be a default box on the MA return interface for this specific type of subtraction. It's going to look pretty strange on the actual filed return if I do it that way...
I'd prefer to just manually adjust one or the other!
Thanks.
