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posted Jun 4, 2019 1:42:03 PM

If I made 34$ in savings acct interest from a bank that isn't in my state of residence (eg the bank's in ME, I'm a resident of MA), do I need to file 2 state tax forms?

I understand that I need to report all savings account interest in my federal tax form, and I know where to report it. My question is that for interest that is <$100 from a bank (ME) not in my state of residence (MA), do I need to file a second state tax form for the state in which the bank is located (ME)? I believe ME only requires it if you made >$3000 but I just want to make extra sure. 

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Level 15
Jun 4, 2019 1:42:04 PM

Interest and dividends, Capital gains and Retirement income are only taxable by the state you live in at the time you receive the $$.  

Only working in ME, or owning a farm, rental property, or having a bushiness interest in ME would need an ME tax return for that  income  (or gambling winnings over a certain amount if they have Casinos)

1 Replies
Level 15
Jun 4, 2019 1:42:04 PM

Interest and dividends, Capital gains and Retirement income are only taxable by the state you live in at the time you receive the $$.  

Only working in ME, or owning a farm, rental property, or having a bushiness interest in ME would need an ME tax return for that  income  (or gambling winnings over a certain amount if they have Casinos)