MO state return

[mary_mcgrath]

I lived part of the year in MO and part of the year in IL. How do I calculate the MO portion of the federal adjustment for the $2,500 student loan interest?

[SabrinaD2]

Here's how you can calculate the Missouri portion of your $2,500 student loan interest deduction:

1. Total Interest: Confirm you paid $2,500 in student loan interest.
2. Time in Months: Determine how many months you lived in Missouri.
3. Proportion: Divide $2,500 by 12 months, then multiply by the number of months you lived in Missouri.

For example, if you lived in Missouri for 6 months:

MO portion=($2,50012)×6=$1,250MO portion=(12$2,500​)×6=$1,250

Use this amount on your Missouri state tax return. Does that help?

 Here is a helpful link to their tax information page: Missouri Department of Revenue - Tax Information and scroll down to Student Loan Interest Deduction.