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    icon_st's Avatar
    icon_st Posts: 2, Reputation: 1
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    #1

    Mar 5, 2009, 07:51 AM
    Banking Interest income in multiple states
    Hi

    1.
    I am having a savings account in PA and I lived there for 6 months last year. Later I moved to IN but did not close my savings account. At the end of the year I received 1099 INT for the entire year.

    Do I need to report the entire amount in PA and IN? Or I can split? If I can then how? There is no way to determine which part of interest was earned in PA and which part in IN?

    2.
    Same situation as above but in this case the account is in different country, not in US. I received 1099 INT from them and I reported that to Federal. What shall I do with PA and IN states?

    Thanks for your help.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Apr 28, 2009, 01:55 PM
    1) Pro-rate the interest income between the two states based on your time in each respective state.

    2) Repoort ALL of the interest on your U.S. return. As a U.S. citizen or resident alien, ALL world-wide income is subjetc to U.S. income taxes.
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