I earned W2 income in NC as a NR while I am a resident of SC. I also earned interest and dividend . For my SC tax return, where do I show my interest/dividend income.

[spark-co2]

the current section for SC resident state tax does not show any place to enter Interest and dividend income.

[SharonD007]

Interest and dividend income is entered in the federal section on Schedule B and flows to your state tax return.  Refer to the TurboTax Help article Where do I enter my 1099-DIV in TurboTax Online? and Where do I enter Form 1099-INT?

[spark-co2]

Thanks. I have entered the 1099-INT and 1099-DIV in my federal income. For my non-resident state of NC, only my W2 income is taxable however in my resident state of SC, I do not see my 1099-DIV and 1099-INT incomes. 

[ThomasM125]

Line one of your South Carolina return reports the taxable income from your federal return. That is the starting point for your South Carolina income. So, the interest income from your federal tax return would be included in that figure, it wouldn't be stated separately elsewhere.

[spark-co2]

Thanks for this detail. Is there any section where I can check and confirm this line 1 of state return before it is filed.

[ThomasM125]

Yes, the amount on line 1 of SC1040 (federal taxable income), your South Carolina tax return, will agree with line 15 (taxable income) on your federal Form 1040. You will see on the federal Form 1040 the interest and dividend income listed on lines 2 and 3.

[spark-co2]

Thanks a lot, I verified that information and it matches as mentioned above federal and SC tax forms. 

In SC 1040 TC for taxes paid to other state, my gross income is different from any other income and it shows as "South Carolina gross income (enter amount from instructions for line 1, E) 1". 

How can I found out where this number is coming from or how is it calculated. 

[DawnC]

Print or save your entire return, including worksheets and calculations.    Use Forms Mode if using desktop and use the Print Center if using TurboTax Online.  

[spark-co2]

Thanks a lot

In SC 1040 TC for taxes paid to other state,  my SC gross income is calculated after deducting dependent exemption, and is less than the W2 amount shown for NC in lune 2 of same form.

The question asks "Portion of line 1 taxed by another state". Since, the gross income is calculated including interest and dividends, and NC is taxing only W2 income as a non-resident and not interest and dividends,, how do I show my interest and dividend income to SC so that the resident state SC can tax those. 

.

[AmyC]

1. Your resident state taxes all income received during the year. Which means your interest and dividends are already part of your SC income. Your deductions and exemptions reduce your taxable income. The next step is a credit for tax paid to NC.

2. The credit for wages earned out of state requires you to enter the taxable NC income and the tax on the income. You will receive a credit. The credit will be the lower of the state tax liabilities on the same taxable income. You may owe your resident state,  if they have a higher tax rate along with differences in how the taxable income is calculated. 

You need to view your forms:

• Verify your NC taxable income and liability and verify/enter it in the SC return.
• View your SC return shows your credit for taxes paid on page 3, line 13 other nonrefundable credits
• 

To print or view  your forms:

• In desktop, switch to Forms Mode. 
• For online:
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  2. Select Print center
  3. Select Print, save or preview this year's return
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