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dnibby
Returning Member

How do I represent dividends and interest in the Part-Year Resident Income Allocations section? In 2018 I was a resident of NC for 6.5 months, then moved.

For some reason this question got deleted. TurboTax CynthiaR had answered the question as follows (Thanks CynthiaR):

"Allocating unearned income like dividends and interest is pretty straightforward – just allocate it to the state you were a resident of when you received it. Here are some examples:

  • You received 3 quarterly dividend payments while living in Arkansas, and the remaining dividend while living in Oklahoma. Allocate the first 3 payments to Arkansas and the last payment to Oklahoma."

So, on the "Part-Year Resident Income Allocations" screen under State, it shows me three columns: Federal Income, North Carolina Resident Income, and North Carolina Income While Non-Resident. The example is that I show $1,680 for Federal Interest. And I know $246 of it came from NC. Should I populate "North Carolina Resident Income" for this item with $246, then $0 for "North Carolina Income While Non-Resident"?

1 Best answer

Accepted Solutions
SteamTrain
Level 15

How do I represent dividends and interest in the Part-Year Resident Income Allocations section? In 2018 I was a resident of NC for 6.5 months, then moved.

That is exactly correct....that last column is usually all zeros for your situation.

...the only time there would be non-zero entries in a few those line in the last column, would be if you owned a rental property or other business you owned that was actually located in NC after you left the state.

And every entry in both columns needs a $$ amount, or a zero.  you cannot leave any blanks

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

View solution in original post

2 Replies
SteamTrain
Level 15

How do I represent dividends and interest in the Part-Year Resident Income Allocations section? In 2018 I was a resident of NC for 6.5 months, then moved.

That is exactly correct....that last column is usually all zeros for your situation.

...the only time there would be non-zero entries in a few those line in the last column, would be if you owned a rental property or other business you owned that was actually located in NC after you left the state.

And every entry in both columns needs a $$ amount, or a zero.  you cannot leave any blanks

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
dnibby
Returning Member

How do I represent dividends and interest in the Part-Year Resident Income Allocations section? In 2018 I was a resident of NC for 6.5 months, then moved.

Thanks. Could someone please tell me how to split a *single* W2? I don't see that option in the Wages section.
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