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Level 1
posted May 28, 2020 1:43:01 PM

Moved/Multiple State filing and how to handle interest and dividends

We moved from MI to AZ late Jul 2019...  How do we handle taxable and non-taxable INTEREST and DIVIDENDS from our Fidelity/Vanguard/etc. accounts ?

 

Do I need to dig up all the monthly statements and tally up all the GAINS/LOSSES  for the time frame while in MI for the MI State filing?  And do the same for the GAINS/LOSSES  for the remainder of 2019 for AZ state filing??

 

As I finished my Federal filing I started my MI filing last night...  It looks like TT adjusted my total income for date I was a MI resident (not sure how TT knew where to split the income at?).  But it did not do any split for the downloads from my financial institutions...  My residency was pretty much 7mths MI and 5 mths AZ.  Did TT just take 7/12ths of my income for MI filing?

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1 Replies
Expert Alumni
May 29, 2020 6:41:27 AM

I would do as you mentioned - 7/12th for MI and 5/12th for AZ.

 

When you say TurboTax adjusted your total income, are you referring to wage income?  This was probably done by the amount listed in the state section of your W2.