Ask Experts Questions for FREE Help !
Ask
    moon2002's Avatar
    moon2002 Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Apr 4, 2008, 08:46 PM
    Partial MA resident tax on interest income
    I lived in MA for four months last year. I received interest from a loan to a business in NH, where I lived before moving to MA. Do I need to pay full MA state tax on this income?

    Thanks.

    Patrick
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Apr 5, 2008, 12:02 AM
    If you are NH resident, then you report full amount on NH tax return. You need not put interest on MA tax return.
    moon2002's Avatar
    moon2002 Posts: 2, Reputation: 1
    New Member
    		  
    #3

    Apr 5, 2008, 03:40 PM
    Thanks for your reply. I am a MA resident filing NR/PR MA tax return now. How does that change things?
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Why am I paying NY tax on income earned partial year in PA while living in PA? [ 1 Answers ]

Help, I lived in PA for 2007 and remain a resident in 2008. I worked partial year in PA and worked remaining of the year in NY. While in NY, NY taxes were taken on income earned. Turbo tax showed that NY taxes are calculated on federal income. Why? I am paying taxes on both in PA because I am...

How do I file capital gains and interest income as part itme resident in NC [ 1 Answers ]

Recently I just became a part time resident in NC July 2007. I was a full time resident of FL prior to that. How do I file NC state taxes for Stock capital gains that were puchased in 2004 in FL (while I was a full time resident there) and sold in 2007 two months after I became a part time...

Refund of interest income tax [ 1 Answers ]

I just received 1099-INT forms from my bank for two CD accounts and one savings account I have. The bank withheld federal tax for the interest accrued. I am considered to be a nonresident and my interst income is not taxable. The back never asked me to complete the W-8 form when I opened my...

Interest Income for Non-resident NY taxes [ 1 Answers ]

Hi, I am filing NY non-resident tax return. I have some interest income from a bank located in NY. Do I count it as a part of NY state income , or exclude it for calculating N state tax? Will this be same for NJ and MD also, as I've lived for parts of the year in these two states (but...

Income Tax on Social Security & Interest Income [ 1 Answers ]

I collect SS, withdraw interest income monthly and sell real estate. I am wondering since my interest income & real estate commissions exceed the SS allowable income cap of $12,000 will my SS for the next year be reduced? Will my real estate expenses be deductible from taxes owed on my...

View more questions Search