Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

Allocation of Interest Income between states

Spartini
Level 1

Part-year resident of AR and AL.  I cannot figure out how to allocate Interest Income between the two states.  I have entered and divided interest income on the Allocation Worksheet but the full amount still shows up on Alabama (the current state of residence).  Can anyone help out a new-bee?

0 Cheers

This discussion has been locked. No new contributions can be made. You may start a new discussion here

4 Comments 4
Just-Lisa-Now-
Level 15
Level 15

Im not familiar with AL, but some states will still use total income, then use a ratio % to compute the tax on it based on the allocated amount....you may want to print out the AL return and walk through the math on it to see the mechanics.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
Terry53029
Level 14
Level 14

Wisconsin does as Lisa said, and a lot of states do it that way

dascpa
Level 11

For states that are not "specific" in their income many people just allocate # days to each state.

0 Cheers
ljk07c
Level 1

Did you figure this out? I have the same issue

0 Cheers