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Spartini
Level 1
March 7, 2021
Question

Allocation of Interest Income between states

  • March 7, 2021
  • 4 replies
  • 38 views

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?

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4 replies

Just-Lisa-Now-
Just-Lisa-Now-Intuit Community Champion
Intuit Community Champion
March 7, 2021

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♥¸¸.•*¨*•♫♪
    Terry53029Intuit Community Champion
    Intuit Community Champion
    March 7, 2021

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

      dascpa
      dascpa
      Level 11
      March 7, 2021

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

      ljk07c
      Level 2
      April 1, 2021

      Did you figure this out? I have the same issue

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