susann1070
Level 1
03-14-2022
02:27 PM
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THINGS LIKE DIVIDENDS, CAPITAL GAINS AND SCHEDULE A DEDUCTIONS ARE NOT ALLOCATING. EVERYTHING IS ENDING UP ON THE NEW RESIDENT STATE AND ZERO IS ENDING UP ON THE STATE OF THE FIRST 10 MONTHS.
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sjrcpa
Level 15
03-14-2022
04:16 PM
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You have to allocate these yourself.
The software does not do it based on days of residence.
The more I know the more I don’t know.
qbteachmt
Level 15
03-14-2022
05:52 PM
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You also need to know what each State requires. Instead of allocating like you are stating it, there are States where you report 100% and then the State gives a credit for taxes paid to the other State, for instance. States often have different ways they tax and credit and exclude, as well. You cannot just Allocate, as if that is all that is required.
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George4Tacks
Level 15
03-14-2022
09:34 PM
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You need to determine the amounts by date received in each state.
Answers are easy. Questions are hard!
