2014 Ohio: Tax-exempt Interest Income
The tax-exempt interest income from five U.S. Territories (America Samoa, Guam, Northern Mariana, Puerto Rico, and Virgin Islands) is exempt from tax on both the federal individual tax return and the related Ohio state tax return.
Certain taxpayers, who had tax-exempt interest income from any of these territories, may have filed an incorrect Ohio tax return.
TurboTax has fixed this issue.
How to tell if you may be impacted
You may be affected if ALL of the following apply to you:
- You filed your Ohio state tax return prior to May 15, 2015 AND
- You reported tax-exempt interest income on your federal return from America Samoa, Guam, Northern Mariana, Puerto Rico, and/ or Virgin Islands AND
- That tax-exempt interest income was included on Ohio Form IT1040, Page 3, line 33 (additions).
If you are affected, you may have overpaid your state tax. You may need to amend your 2014 Ohio return.
To amend your return:
- Follow these amend instructions for the TurboTax Online product.
- Follow these amend instructions for the TurboTax CD Download product.
- After you make the changes to your tax return, you will need to mail a copy of your amended state return.
- Your printed return will include instructions on how and where to mail it.
If you need to contact us, please use the phone number in the email from TurboTax and tell the representative you’re calling about the 2014 Ohio: Tax-exempt Interest Income.