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Any accountants or CPAs here ?????
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DjPiLL
Member since 5/05 3664 total posts
Name:
Richard
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Any accountants or CPAs here ?????
If someone can provide me with an answer to this I would appreciate it. (or if someone has a DH thats a CPA thats cool too).
I moved from Queens to Nassau this year... and I do my taxes on my own.
The one issue I have with doing my taxes on my own... is dealing with some interest income.
This is what turbotax says on the $550 worth of interest I got from my bank.
ALLOCATE CITY INCOME
Because your residence changed during the tax year, you must allocate your income based on the time you spent as a resident of New York City or Yonkers.
Complete the New York City Column if Richard was a part-year New York City resident. Comlplete the Yonkers column if Richard was a part-year Yonkers resident.
Taxable Interest Income
Federal Amount -------------- New York City Resident Portion
---- $550 ----------------------------- $502
Now I lived in NYC for most of the year... so I took the percentage of my time I live in NYC and came up with $502 interest buks that I made while a resident of NYC.
Is this the correct way to do this? I am thinking yes... but you never know I suppose.
I hate these damm residency changes.
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Posted 2/15/06 11:38 AM  |
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