1. Home
  2. Taxes General Forum
  3. Filing both MD and PA taxes

Filing both MD and PA taxes

Hi,

I lived in MD from 1/1/07 to 7/6/07 and then in PA for the rest of

2007. I am going over the tax return for PA and am inquiring as to whether or not I have to enter my interest income on my PA tax return as it is already being taxed on the MD side.

In TaxAct, it says I have the option of not having this amount taxed in PA by checking the box for each of the 1099s. The amount of taxes I would owe for leaving them off my PA tax return would be just under $300. Currently we are at $0 with PA.

I've been reading the PA booklets and they aren't clear in whether or not it is taxable as I am a "part year resident" according to PA.

Any thoughts would be greatly appreciated.

Thanks!

Reply to
J
Loading thread data ...

The interest income prior to 7/6/07 is taxable to MD. The interest income from 7/7/07 forward is taxable to PA.

Ira Smilovitz

Reply to
Ira Smilovitz

As Ira says, the interest income you earned while you were a PA resident is taxable in PA; what you earned while a MD resident is taxable in MD. It doesn't matter where the payer of the interest is located.

If the accounts or investments that produced the interest income were in place all year, at about the same levels, you can just prorate by the days. Otherwise you should make an actual cutoff, as close as you can come. For example, if you closed a PA account and opened a MD account with those funds at about the time you moved, all of the PA account interest would be taxable in PA and vice versa.

Katie in San Diego

Reply to
Katie

BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.