Need help filling

Forum|Forum|6 years ago
March 27, 2020
2 replies
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TurboTax Live Deluxe Online

LeonardS

Level 14

What do you need help with? Post a reply to this thread with what you need help with for assistance.

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Khickman2

Level 2

I am being asked to allocate federal deductions to income made in NYC. The income being referred to is my student loan interest. I have never had this issue. My student loan interest is not income, it is something I've incurred while being on deferment. I was a part time resident of NYC until February 2019. Since February I lived in North Carolina. I was not asked this question when it came to North Carolina. Please advise.

DaveF1006

Level 15

The reason NYC is asking the question is that student loan interest is an income adjustment. In the allocation screen, it is asking you if you wish to allocate this adjustment to NYC. You would only allocate the portion of the adjustment while to were a resident of NYC. To allocate it properly, you would take the total amount of the student loan interest and divide by 12 to get that one month's interest amount while living in NYC.

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