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misha0926
New Member

Is Tax Paid to South Carolina showing wrong amount for my North Carolina return?

I work in SC, live in NC. Turbotax is showing Tax paid to SC is $3,696 but my W2 shows state income tax paid $5,178. Should I adjust turbotax's number?

Scratch this question. I finally found the answer on the NC Department of Revenue website. Since I am getting a refund from SC of $1,481, the credit I list on my NC tax return is the total tax paid less the refund received. Hope this helps others with 2 state filings.

1 Reply
SteamTrain
Level 15

Is Tax Paid to South Carolina showing wrong amount for my North Carolina return?

Absolutely correct.  

Max allowed credit is the taxes that SC "kept"  (i.e. net after SC refund)

A second qualification of the amount, is that the credit allowed cannot exceed the % that NC would-have charged for the same income.  Thus, if the non-resident state taxes those wages at 6%, while NC taxes at 5%, then the credit is only for up-to the 5% that NC would have charged.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
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