Question

Turbo Tax Ma banks interest when filing two states the interest is shown on both states

Forum|Forum|1 year ago
March 15, 2025
1 reply
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Should I only have data entered once from MA banks interest INT. I put in filing for W2 personal and I am seeing the income for banks showing on RI and MA for taxable income. I have banks in MA not RI , but I am not sure if they offset this amount somehow? How can I make sure I am paying only one state for INT earned on banks.

DMarkM1

Yes the interest earned is entered once in the federal interview and will be taxed by your resident state MA. You can edit your RI state interview and click "Continue" through the summary page and business income pages to arrive at the section of questions on allocating income. You will have the opportunity to allocate income by source to RI as applicable. You would not allocate the interest income to RI in this case.

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