Does TurboTax automatically generate ANY P/Y state allocations going off move date?
IE: 1099-B Sell date on stocks/bonds. Does TurboTax portion to the state of residence at time of sale, knowing this info because it was entered? Or is this something that is prompted for us to figure and enter by default on a Part Year return?
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1 Best answer
HelenC12
Expert Alumni
Mar 22, 2022 10:24:29 AM
No, TurboTax does not allocate the 1099-B forms based on the date of sale versus the move date. You'll be able to manually allocate which 1099-B forms go the appropriate state so you won't be double taxed. Please see How do I allocate (split) income for a part-year state return?
1 Replies
HelenC12
Expert Alumni
Mar 22, 2022 10:24:29 AM
No, TurboTax does not allocate the 1099-B forms based on the date of sale versus the move date. You'll be able to manually allocate which 1099-B forms go the appropriate state so you won't be double taxed. Please see How do I allocate (split) income for a part-year state return?