Hello,
I am trying to adjust my Regular interest income for my State taxes as I was part-year resident. Tutbotax won't let me edit the Regular interest income, just the US government interest income, see picture below:
I just want to adjust the $67 of Regular interest income. Why does Turbotax does not let me do that? It seems it should be possible to adjust each interest separately. How do I fix that?
Please help!
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When you file part-year resident returns there is usually a page as you go through the state return to allocate income items reported on your Federal return to each state. You should see a similar allocation for each state return you are filing for part-year residency.
Double-check that you have chosen the correct residency for your state returns. If you do not see the option to allocate your income according to the state residency, provide more information to us about which states you are filing and someone may be able to give you further guidance.
Hi,
I moved out of the USA so I file as part-year resident but not with another US state.
I would like to remove 1$ from the total $67 Regular interest income (see picture in my original post) because I received this 1$ when I was living out of the State/USA.
How can I deduct this 1$ from the Regular interest income?
If that $1 of interest income was earned from a US source or a foreign source, then you would not deduct it from your Federal tax return. Your Federal return taxes all of your worldwide income regardless of where you lived at the time it was earned.
You could change your part-year state tax return by either adjusting the number where you can allocate income that pertains to your part-year state, or by making an entry in the 'subtractions from income' category that you may find as part of your state tax return.
If you share the state you are filing someone may be able to give you more specific guidance about how to make the adjustment for your state return.
I am not trying to deduct income from my Federal tax return. I am rendered at my State taxes (PA) and since TT knows I am part-year resident, he gives me the option to adjust my federal income for my State taxes (please see screenshot below - this is thr State taxes step not federal).
I am trying to deduct 1$ from part-year resident PA state return. I earned this 1$ after I moved overseas (no longer resident of PA state). That's why I am trying to deduct in my State return this 1$ from my Regular interest income.
Please look at the screenshot below:
I don't know why but TT only lets me adjust the US government interest and not the Regular interest of 67$. I need to remove the 1$ from the $67 of Regular interest but TT won't even allows me to do that.
I think it is a bug. Please help me, how can I adjust my Regular interest here?
To make the adjustment you will need to click the edit icon next to Regular Interest. Then enter the $1 adjustment and mark as other adjustment. See screenshots below:
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