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posted Jan 15, 2025 11:52:28 AM

If I have a CD from a state other than the state that I reside in, is that considered "Income from another state"?

I live in TN, however I have a CD from a credit union that I earned interest on that is located in IA. Is that considered "Other state income"?

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Level 15
Jan 15, 2025 12:29:52 PM

No, interest from a credit union account is not income from another state. Income from an investment account, such as a CD, is considered income from the state that you live in, no matter what state the financial institution is located in.

 

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Level 15
Jan 15, 2025 12:29:52 PM

No, interest from a credit union account is not income from another state. Income from an investment account, such as a CD, is considered income from the state that you live in, no matter what state the financial institution is located in.