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bowen
New Member

I live in Illinois. Is Dividend Inc. earned from a bank in Indiana considered income earned from another state?

 
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Accepted Solutions
HelenaC
New Member

I live in Illinois. Is Dividend Inc. earned from a bank in Indiana considered income earned from another state?

No, it is not income earned in another state. You don't need to report interest income from an out-of-state bank account on a nonresident return.  It only needs to be reported on your federal and resident state return.

To enter Form 1099-INT:
  1. Open (continue) your return in TurboTax.
  2. In the search box, search for 1099-INT (upper- or lower-case, with or without the dash) and then click the "Jump to" link in the search results.
  3. Answer Yes when asked if you received any interest income.
  4. On the next screen, you'll be given options to either import or manually type in your 1099-INT. Select the option you want and click Continue.

If you are entering a second 1099-INT or if you land on the Interest Income Summary screen instead, click Add Interest Income., simply click/tap on Add Another Broker or Payer and follow the same steps above. 

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1 Reply
HelenaC
New Member

I live in Illinois. Is Dividend Inc. earned from a bank in Indiana considered income earned from another state?

No, it is not income earned in another state. You don't need to report interest income from an out-of-state bank account on a nonresident return.  It only needs to be reported on your federal and resident state return.

To enter Form 1099-INT:
  1. Open (continue) your return in TurboTax.
  2. In the search box, search for 1099-INT (upper- or lower-case, with or without the dash) and then click the "Jump to" link in the search results.
  3. Answer Yes when asked if you received any interest income.
  4. On the next screen, you'll be given options to either import or manually type in your 1099-INT. Select the option you want and click Continue.

If you are entering a second 1099-INT or if you land on the Interest Income Summary screen instead, click Add Interest Income., simply click/tap on Add Another Broker or Payer and follow the same steps above. 

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