I retired from NJ and moved to PA in September. While in PA, i received my annual annuity payment from an inherited annuity. Turbotax has me file the amount under the state I lived in when receiving the payment. Please advise as to how to post this. Should I prorate the amount 25% PA and 75% NJ or just leave the total amount in PA as income. Doesn't make much difference in total tax paid, just want to do it correctly. Thank you for your kind assistance.
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Thank you for your guidance, I really appreciate your help and assistance. Have a great day!
TurboTax is doing it correctly. Annuity income is taxable by your state of residence at the time you receive it, and you should allocate the income accordingly.
Thank you for your guidance, I really appreciate your help and assistance. Have a great day!
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