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New Member
posted Mar 19, 2024 1:21:45 PM

Is interest income subject to both Federal and NYC taxes? I've moved from NYC to Westchester, and not sure what to fill out in Line 2B of the IT360.1

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1 Replies
Expert Alumni
Mar 19, 2024 1:30:26 PM

Yes, interest income is taxable income for both federal and New York City.  Then amount to enter on line 2B or Form IT360.1 is the amount of interest (the amount on line 2A that you received while a resident of New York City.  You will probably need to refer to your monthly statements for the accounts that paid you interest.