turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Ask the Experts All About the W-4! >> Event happening NOW!!!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

JackSpiceman
Returning Member

TurboTax Says $0 tax due for Part-Year MA/NY Resident

TurboTax is saying I owe $0 in MA income because it is double counting tax-exempt, out of state income as a deduction from total federal interest income. Is this correct? Details below (with made-up numbers that illustrate the point).

 

I moved from MA to NY in April of last year. My interest income in the two states is as follows and I had no W2 income in MA.

 

MA Interest/Dividend Income: 10,000

NY Interest/Dividend Income: 40,000

Total Interest Income: 50,000

 

MA Portion from US Debt Obligations: 2,000

NY Portion from US Debt Obligations: 18,000

Total Interest from US Debt Obligations: 20,000

 

In Schedule B on my MA return, TurboTax is calculating line 7 to be $0 because it is subtracting $40,000 (Out of state income) and $20000 (Total US Debt obligations) from $50,000 (total interest and dividend income). This feels like double counting. I feel like line 7 should be $50,000-$40,000-$2000=$8000.

 

Is the $0 on line 7 really correct? This is making it so I have no income whatsoever in Massachusetts, which doesn't seem correct to me.

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies
JackSpiceman
Returning Member

TurboTax Says $0 tax due for Part-Year MA/NY Resident

On my federal return, when I enter a 1099-DIV, I can only specify the full $20,000 when saying "A portion of these dividends is U.S. Government Interest." Is there anyway to specify different amounts for different states if I moved states during a year?

CatinaT1
Expert Alumni

TurboTax Says $0 tax due for Part-Year MA/NY Resident

Were you able to resolve your issue here or are you still needing guidance? 

 

Make sure you have ran all updates. 

 

If using TurboTax Online: Clear your cache and cookies. See this FAQ, for your particular browser.

If using TurboTax Desktop: Please see this FAQ.

 

If you still are not able to solve this, please call TurboTax Customer service.  Here is a link:  Turbo Tax Customer Service 

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

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies