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delaware return for retired resident with only investment income, no income source from delaware

I am retired living on saving and investment income, I have no income from any delaware source but own a single family home in delaware, my total income is 120K in 2022, do I need to file delaware return?

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1 Best answer

Accepted Solutions
PattiF
Expert Alumni

delaware return for retired resident with only investment income, no income source from delaware

You should consider the dividends that you received while living in Delaware as the only income to report. 

 

The instructions for filing as a part-year resident of Delaware are:

 

If you were a Part-Year Resident, you must file a Delaware tax return: 

  • c. If you had income from any source while a resident of Delaware
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3 Replies
AnnetteB6
Employee Tax Expert

delaware return for retired resident with only investment income, no income source from delaware

If you are a Delaware resident (or a resident of any other state for that matter), the income you receive from retirement or investments is attributed to your resident state without being required to have come from a source in that state.  

 

Without knowing the character of the total income you mentioned and whether it is taxable or not, there is no way to know for sure whether you are required to file a Delaware return.  As you go through TurboTax to complete your Federal return and move on to the Delaware return, if it is not required, then you will see messages on the screen telling you that you do not need to file the state return.

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delaware return for retired resident with only investment income, no income source from delaware

Got it, but in case I am a partial year resident, how could I derive the portion of income as sourced in Delaware? Assume I am resident from 1/1 to 4/30 for 4 months. 

e.g. dividend, 4 quarters at quarter end, so I report only one quarter?

e.g. capital gain of 1k sold in Oct but brought years ago nothing to do with Delaware, so 0?

e.g. withdrawal 5k from IRA in Oct, is it 0 or prorated for 25% as source from Delaware 

 

thx again!

PattiF
Expert Alumni

delaware return for retired resident with only investment income, no income source from delaware

You should consider the dividends that you received while living in Delaware as the only income to report. 

 

The instructions for filing as a part-year resident of Delaware are:

 

If you were a Part-Year Resident, you must file a Delaware tax return: 

  • c. If you had income from any source while a resident of Delaware
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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