In the Mississippi return, when you have a 1099-INT or 1099-DIV, it asks you to "Enter the missing information for XXX Bank." There are 4 blanks that are fillable: Mississippi State Income, Mississippi Withholding, Other State Name, and Other State Income."
Let's use two examples. 1) You have $20 in interest from a bank and 2) you have $10,000 in dividends from a brokerage account. If I play with the online version and leave everything blank, I get X for tax return. If I add the $20 and $10,000 in "Mississippi State Income", I continue to get the same X for tax return back for MS.
So my questions:
1) Am I supposed to be noting this money as Mississippi income?
2) Notwithstanding #1, why does it make no difference as to my tax return amount?
Thanks for any help that can be provided!
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Mississippi uses the federal amount, but if you need to split the interest or dividend income between two states, an entry here (of a partial amount) will use that amount for Mississippi state income tax.
Mississippi uses the federal amount, but if you need to split the interest or dividend income between two states, an entry here (of a partial amount) will use that amount for Mississippi state income tax.
Thank you!
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