Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 1
posted Jan 31, 2024 9:08:31 AM

RSU wage allocation after moving

I moved from NY to MD in 2022, but I have RSUs granted to me in NY from 2021. I understand that I still need to pay taxes when the RSUs vest. Looking at my payslips and brokerage details, I know the exact numbers that are taxable wages in NY for the RSUs vested. 

 

  1. Is there a way to manually specify taxable wages for state taxes in Turbotax? For the NY one, I only see allocate by percentage or number of day, but not a specific number. 
  2. My state income also comes with some itemized deductions that reduces my taxes. If I try to allocate by percentage, should the percentage be based on the income before or after the itemized deduction?
    - For example, my total wages are $100,000, and my taxable NY wages should be $3000. I have itemized deductions of $12,000. Should my allocation percentage be 0.03 (0.03 x 100,000 = 3000) or should it be 0.034 (0.0341 x (100,000 - 12,000) = 3000)?

0 3 2337
3 Replies
Expert Alumni
Jan 31, 2024 9:11:55 AM

I would just allocate by percentage since you know the amount that you're looking for.  But in order to manually enter the amount you would need to use the TurboTax desktop program.

 

Your deductions should be allocated the same way that your income is allocated.

 

@kgz1 

Level 1
Jan 31, 2024 9:26:54 AM

I am using Turbotax Desktop, can you clarify how to allocate by specifying the number?

 

@RobertB4444 

 

Expert Alumni
Jan 31, 2024 10:14:11 AM

Yes, as you prepare your NY State non-resident return, there should be an allocation screen that will let you put in a specific number without allocating by percentages or number of days when you are using Turbo Tax Desktop.

 

 It should be a screen that looks like the example I enclosed at the bottom of this post. In my example, I am using interest income but you should have a separate screen showing the income from the RSU's. I have included an example below.

 

If you are trying to determine by percentage, use the percentage of RSU income to the total adjusted income shown line 11 of your 1040 without regards to your itemized deductions. Here is a screenshot on what i was describing above.