I essentially lived in 2 states for the 2006 year, but I still work in the same place. Does this affect state taxes?
2007-01-24 02:29:15 · 19 answers · asked by nbxrox 2 in Business & Finance ➔ Taxes ➔ United States
You have to file in both states as part-year resident. You should probably get some help from a competent tax advisor.
2007-01-24 02:34:50 · answer #1 · answered by Nusha 5 · 3⤊ 1⤋
We did that one year and my husband worked for the same company but it was in 2 different states. We had to do both states for taxes. If they hold out taxes for the state that you now live in - you will have to do the same. Just check with the IRS, they can tell you.
2007-01-28 08:01:17 · answer #2 · answered by tracey986 2 · 0⤊ 0⤋
This is really easy. You file a part year resident for both states. 7 months for the first state, 5 for the second. This computes out to roughly 58% of your income taxable in the first state and 42% taxable in the second. Just get the part time resident form for both states and file them per the directions that come with them. It really isn't to much harder then filing for a single state, only a little more work. But, all doable!!! Also, It will not effect your federal taxes at all.
2007-01-25 22:44:19 · answer #3 · answered by Kimber 2 · 0⤊ 1⤋
States have a provision in the tax code for part-year residents. Your federal return won't be affected, but you will need to file 2 state returns. If you lived in one state and worked in another there is something called non-resident tax. Sounds like it could get confusing, consult a tax professional. It might cost a couple bucks, but it will be done right.
2007-01-26 18:03:29 · answer #4 · answered by crazydave 7 · 0⤊ 1⤋
Yes, you'll have to file in both states IF both states have income taxes. I say that because Wyoming is one of the states that doesn't.
I suggest you go to a tax place like Jackson Hewitt where they are familiar with all the state requirements. Doing it with a program, they assume you know more than you do and you could lose money.
2007-01-24 10:40:05 · answer #5 · answered by loryntoo 7 · 0⤊ 1⤋
If both states have income tax, you'd have to file in both as a part-year resident. You shouldn't get double taxed though, since adjacent states nearly always have reciprocal agreements, so any tax paid in one state can be deducted in the other for the same income. In your case, you'll probably declare for each state what you made while living in that state.
2007-01-24 11:51:36 · answer #6 · answered by Judy 7 · 0⤊ 1⤋
As for federal taxes, there is no affect whatsoever. You still have to file state taxes in any state that has them. Florida has no state taxes, whereas Georgia and Alabama both do.
2007-01-25 09:01:30 · answer #7 · answered by tom 3 · 0⤊ 1⤋
It depends on what states they are. Your Federal taxes will not be affected whatsoever. You may, however, have to pay state and/or city taxes for one or both of the cities and states you resided in.
2007-01-25 10:13:51 · answer #8 · answered by Sandra G 2 · 0⤊ 1⤋
Yes you must report the specific earning of each state to that state. If will not effect your Federal taxes. You may want to seek help from a provider, but it will not be so difficult if you choose to do it on your own.
2007-01-27 12:25:13 · answer #9 · answered by Anonymous · 0⤊ 1⤋
It doesn't affect you at all... I too moved from California to Texas in March of 2006. My tax advisor happens to have a national credential...meaning that he can file taxes accross USA via U.S mail. I've filed with him for years and I was happy to know that he had such credential. Oh yeah, don't forget to include your moving expenses in your tax claim.
2007-01-26 18:07:56 · answer #10 · answered by Mother'f3 3 · 0⤊ 1⤋