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t42jpe5
Returning Member

I live and work in DE but all my banking is in NJ. I filed my state income tax for DE. Do I have to report my bank and savings accounts interest to NJ too?

I never changed the address on my NJ bank accounts so they still come to my parents' home. Did I do everything right?

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DanielV01
Expert Alumni

I live and work in DE but all my banking is in NJ. I filed my state income tax for DE. Do I have to report my bank and savings accounts interest to NJ too?

No, it will not be necessary to file a NJ return.  You do want to change the address with the bank, but the fact is that you are a Delaware resident.  Since none of your income is generated in New Jersey, your interest income is not going to be taxable there, either.

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5 Replies
t42jpe5
Returning Member

I live and work in DE but all my banking is in NJ. I filed my state income tax for DE. Do I have to report my bank and savings accounts interest to NJ too?

Why do I need to change the address for my bank accounts? I feel safer having my bank account info. delivered to my parents NJ home.
DanielV01
Expert Alumni

I live and work in DE but all my banking is in NJ. I filed my state income tax for DE. Do I have to report my bank and savings accounts interest to NJ too?

That's up to you also.  My answer is based on tax advice only.  If you have other reasons for not changing it, you have that right.  It still is not income to New Jersey.
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t42jpe5
Returning Member

I live and work in DE but all my banking is in NJ. I filed my state income tax for DE. Do I have to report my bank and savings accounts interest to NJ too?

Your info. has been very helpful. Thanks DanielV.
DanielV01
Expert Alumni

I live and work in DE but all my banking is in NJ. I filed my state income tax for DE. Do I have to report my bank and savings accounts interest to NJ too?

You're welcome.
**Say "Thanks" by clicking the thumb icon in a post
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DanielV01
Expert Alumni

I live and work in DE but all my banking is in NJ. I filed my state income tax for DE. Do I have to report my bank and savings accounts interest to NJ too?

No, it will not be necessary to file a NJ return.  You do want to change the address with the bank, but the fact is that you are a Delaware resident.  Since none of your income is generated in New Jersey, your interest income is not going to be taxable there, either.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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