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3 replies

LeonardS
LeonardS
Alumni - Intuit
Mar 27, 2020 3:48 PM UTC

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
Mar 30, 2020 5:09 PM UTC

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
DaveF1006
Alumni - Intuit
Mar 30, 2020 6:33 PM UTC

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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