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I moved to Kentucky from Texas in February of 2019. As I am filing my state return for Kentucky, it is asking me about the Kentucky Portion of Income. I have no idea what this is, or what I am supposed to enter. It's showing my federal total and interest, it's asking for my Kentucky total and interest. What do I put there?
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Since you are filing a part-year resident return for KY, you would enter any income that you received while you were a resident of KY.
If you were employed by the same company all year, then prorate you income based on how many months you were in each state. If you moved to KY in early February, then divide your total income by 12 and then multiply that result by 11 months that you lived in KY. You can use the same formula to prorate your interest income if it was received all year.
All income received, by you, since arriving in KY is Ky source income. Whether it be salaries or interest or anything else. For example, If you sold stock on March 15, the capital gain (or loss) would be allocated to KY because that's where you lived when the capital gain was realized. If you took money out of your IRA on December 12, that distribution would be KY income.
If you have no idea what this is, then it is all KY income because that's where you lived most of the year.
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