Hello,
I'm having a heck of a time figuring out how to report state taxes. I moved from Pennsylvania to Virginia on 9/28/24. So, I was a resident of PA for 271 days (74% of the year) and a resident of VA for 26% of the year. How do I report dividends, interest, and capital gains to each state?
Do I simply prorate the amounts for dividends, interest, and capital gains (regardless of when they were actually paid to me) according to how much time I spent in each state? For example, $1,000 in dividends would be $670 for PA and $330 for VA? Are PA and VA going to agree to this methodology?
But what about these situations?
- I have a bank account which earned interest throughout 2024. I know how much interest was paid in each month. Do I calculate exactly how much interest was paid while I was in PA and then the same for VA? Or do I simply prorate?
- I have a mutual fund which paid capital gains in the last week of 2024. Do I prorate this according to how much time I spent in PA and in VA? Or since the gains were actually paid when I was a resident of VA, does the entire gain get reported to VA state taxes and $0 reported to PA state taxes?
- I sold some stock for a gain on 4/30/24. Do I prorate the gain or...since I was a resident of PA at the time of the sale, does the entire gain get reported to PA state taxes and $0 reported to VA state taxes?
Thank you very much,
Tom