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vl1024
New Member

I do not understand this question, I moved out of NY to NH in July, 2016. "Enter any federal deductions attributable to the period of your New York State residency. If none, enter zero." I left it at zero for now because I am unsure.

It also asked me to enter any amount of the $2500 federal student loan interest deduction  that is "taxable" in NY State.. I don't understand this question either. I left that at zero too.
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1 Reply
DS30
New Member

I do not understand this question, I moved out of NY to NH in July, 2016. "Enter any federal deductions attributable to the period of your New York State residency. If none, enter zero." I left it at zero for now because I am unsure.

Since you moved from NY to NH during the tax year, you will need to allocate your income and deductions based on the time you were a part-year resident of each state.

Please note that you will not have a NH part-year state income tax filing unless you received interest and dividend income while you were a part-year resident of NH. NH has no state income tax filing requirement related to earned income (wages).

So when it asks about your federal deductions attributable to your NY residence you will need to allocate your deductions as follows:

  1. Any federal deductions that you are claiming that relate to your NY resident only (like a mortgage interest deduction on a NY home that you sold before moving) will be full allocated to your NY part-year resident state income tax return.
  2. Any federal deductions that were incurred evenly throughout the year (like your student loan interest deduction or the standard deduction (if you are not itemizing)) will need to be allocated between the two states based on your days of part-year residence in each state.

Check below for more information about filing a part-year state tax return (Please select "see entire answer" to see full answer)

https://ttlc.intuit.com/replies/3302008


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