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If I have a 1099-INT and filed two state income tax returns, do I enter interest income for both?

 
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9 Replies
JillS56
Expert Alumni

If I have a 1099-INT and filed two state income tax returns, do I enter interest income for both?

No.  The 1099-INT is entered in the federal review under income and expenses.  

 

If you have two state returns, that means you either have one resident and one non-resident or two part-year returns.   Depending on which type of returns you file, TurboTax will determine which state return the 1099-INT would be reportable.   You would not pay 1099-INT to both states.   Normally, it would be the state of your primary residence.

  

0T
Level 2

If I have a 1099-INT and filed two state income tax returns, do I enter interest income for both?

If My Bank, that earned 1099INT, income is in the Non Resident State and My Resident State wants the 1099 INT info, fill in the Blank (s), Do  I enter the $  amount as Resident" State Income"  and fill in  "Other State Name "NON Resident State as the other state? 

DMarkM1
Expert Alumni

If I have a 1099-INT and filed two state income tax returns, do I enter interest income for both?

The interest earned is all residential state income.  First, the resident state taxes all income from all sources.  Second, the interest is taxed based on where you are (residing) not where the bank is located.   

 

 

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0T
Level 2

If I have a 1099-INT and filed two state income tax returns, do I enter interest income for both?

So in my residential state tax area, I need to enter the 1099 INT   $ amount again and claim it as my Residential income and not my other state.  Would the Federal part not of transferred the 1099 INT info  $ amount to state area? K

If I have a 1099-INT and filed two state income tax returns, do I enter interest income for both?

If you have 2 state returns, you will have to go through both states and allocate the income accordingly. As mentioned, the 1099-INT is generally your resident state income.

0T
Level 2

If I have a 1099-INT and filed two state income tax returns, do I enter interest income for both?

IF items from the federal ( 1040 form income area) were sent  to my resident state form for my 1099INT and all fields were already filled in except for this state except other state, Do I clear out the (0 $ ) that are already there and input the $$$ amount for this state? OR just leave as is and move on? Monies were  made in resident state and not the non resident state.

AliciaP1
Expert Alumni

If I have a 1099-INT and filed two state income tax returns, do I enter interest income for both?

Yes, when entering your state apportionment information, you should zero any non-resident state income items that don't apply.  Then be sure you have the entire amount listed for your resident state.

 

@0T

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pbm49
New Member

If I have a 1099-INT and filed two state income tax returns, do I enter interest income for both?

I was a part year resident in two states in 2023.  Which state should I file first?

 

RobertB4444
Employee Tax Expert

If I have a 1099-INT and filed two state income tax returns, do I enter interest income for both?

The state that you moved out of.  You're going to have to file 'part-year resident' returns in both states but this is the final return you have to file for the state that you left as a resident.  

 

So you will enter everything into that return and then - if that state requires you to pay taxes on income taxed by both states - you will take credit for taxes paid to the state you left on your new state's return.  

 

@pbm49 

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