Part-Year Resident of Massachusetts -- what income needs to be accounted for

[dad26]

Residency changed in April 2023 from Massachusetts to Florida.  I have completed Federal return and now working on Massachusetts Part-Year residency tax return.

What income needs to be accounted for on MA return?  Dividends, interest, IRA distribution/annuities, etc.  ?

What is considered non-MA portion?

How do I account for the income?  when i received the monthly distributions? or can I just divide by 3 since I lived in Massachusetts for 3 months?

[MayaD]

As a part-year resident, you're generally taxed on all your income while you're a resident of Massachusetts, received from sources inside or outside of Massachusetts.

Non-MA portion is the income received while you were resident of FL. 

Unearned income  such as interest, dividends, capital gains, social security, and IRA distributions is usually taxable in the state  you were a resident of when you received it.

If you know the exact amount of distributions received while you were living in MA, this is the amount that is considered MA source income. If you don't have the exact amount received during the time you were MA resident,  divide the amount received by 12 and then multiply the figure by the number of months you lived in MA. 

For more information, check: How do I file a part-year state return?

How do I allocate (split) income for a part-year state return?

[dad26]

Thank you.

How do you account for capital gains/interest/dividends earned from Trusts? In the state the Trust was established (massachusetts) or the state of beneficiary residency (florida)?

Trusts were established in Massachusetts, but I am now resident of Florida, filling out a part year residency tax return for Massachusetts.  

[CatinaT1]

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[EscheK]

I have the opposite situation - We lived in Florida and moved to MA on 10/1. When TurboTax calculates the "Non-MA portion of distributions" it is not 75% of the total ($8800) and it will not allow us to correct the amount. The amount it displays is $2199.  That amount is 25% of the total . . . . It seems to be flipped. The tab is labeled "Taxable IRA/Keogh Distributions". 

[TomK2023]

In your Personal Info section, did you list your residency state first (Massachusetts), and then your former state residency (Florida) second, and finally, the date you moved to Massachusetts?   Please see image below.

[EscheK]

Yes.

[EscheK]

I double checked and made sure the information was updated for both of us.

[MarilynG1]

You can make or change an entry on the Massachusetts interview screen 'Taxable IRA Keogh Distributions.'

If you are not able to type or edit the entry, and you're using TurboTax Online, clear your Cache and Cookies and retry.

Here's more info on Allocating Income for a Part-Year Resident.

@EscheK