
Anonymous
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posted
June 6, 2019
5:02 AM
last updated
June 06, 2019
5:02 AM
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How do I divide dividends between two states?
I lived in two states in 2016. I own a mutual fund and I received dividends and short term capital gain. The fund paid out the gains all at once. However, the money was in my account all year. How do I split the gains on the mutual fund?
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How do I divide dividends between two states?
Easiest way is to just allocate it based on time in each state.
So if 5/12's lived in first state, then take 5/12's of dividends and capital gains for first and remainder to second state.
Keep records in your tax file as how and why it was allocated this way. Make sure the total allocated does not exceed 100%.
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How do I divide dividends between two states?
I have to enter dividends on Fed Tax. Example $1000 entered on Fed. When I get to state it shows $1000. It has a place to adjust but it doesn't do anything.
In Interest (banks), I can allocate a portion to each state. Not in Cap Gains.
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