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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"?
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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 $$ amount, or a zero. you cannot leave any blanks
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How do I represent dividends and interest in the Part-Year Resident Income Allocations section? In 2018 I was a resident of NC for 6.5 months, then moved.
That is exactly correct....that last column is usually all zeros for your situation.
...the only time there would be non-zero entries in a few those line in the last column, would be if you owned a rental property or other business you owned that was actually located in NC after you left the state.
And every entry in both columns needs a $$ amount, or a zero. you cannot leave any blanks
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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.
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