Do I need to split my 1099s form that I received from brokerage if I live in 2 states in 2021?

[taivan2019]

I have no other income except income from stock in 2021

[Mike9241]

what states and how many days of 2021 did you live in each. every state has different rules.

[taivan2019]

Thanks for your respond. I lived in MA untill end of May and moved to GA and stay here until now. Do you think can I pay state taxes on a prorated basis depending on how long I lived in each state?

[ThomasM125 · Accepted solution]

You won't end up being taxed on the same income in both states.

You should enter your complete 1099 forms in the federal section of TurboTax. When you go to prepare your state income tax returns, you should do the Massachusetts tax return first, indicating that you are a part-year resident. If you end up paying any tax to Massachusetts on income you earned in Georgia, you will see an option on the Georgia return where you can get a credit for the taxes paid to Massachusetts.

You may need to look at the tax summary in either or both of the state tax returns to see what income is being taxed. You can do this as follows:

While working on your state tax return in TurboTax:

1. Click on the Tax Tools menu option on your left menu bar
2. Click on Tools
3. Choose the View Tax Summary option

[Hal_Al]

You report the income based on where you lived when the money was received.  So, if your 1099-R is for a monthly pension, you report the first 5 months as MA income and the last 7 months as GA income.

If the 1099-R was for a single payment, allocate (report) it to the state where you were living when the payment was received. 

[taivan2019]

Thanks for your answer Hal_AI. The 1099 is for whole year income that results from many transactions during a year. This is income from stock only. 

[Hal_Al]

@taivan2019  said " The 1099 is for whole year income that results from many transactions during a year".

Then, you assign the income, from each transaction, to the state you lived in on the date of the transaction.  Although the 1099, itself, won't show those dates, the broker can provide a breakdown.  It's frequently an attachment to the 1099.