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Subject:
Credit for Income Tax Paid To Another State
Category: Business and Money Asked by: mac_ca-ga List Price: $5.00 |
Posted:
07 Mar 2005 20:07 PST
Expires: 01 Apr 2005 19:10 PST Question ID: 486527 |
How do i get credit for Income Tax Paid To Another State? I have two W2 for the Year 2004 - From California and Iowa, But i was full year resident of California in 2004. How and where do i need to include it in Income tax returns? |
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There is no answer at this time. |
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Subject:
Re: Credit for Income Tax Paid To Another State
From: jack_of_few_trades-ga on 08 Mar 2005 05:11 PST |
I am a part year resident in 2 states this year and paid taxes into both states, but I only owe taxes in 1. The policy in Virginia is to file a Virginia tax return (dispite not owing taxes) showing that my income was low enough in the state to not owe taxes and they will refund all my money. I'm not certain, but I'd guess you'll have to do the same. File an Iowa tax return showing $0 income and your taxes paid into Iowa and they will refund all the money. |
Subject:
Re: Credit for Income Tax Paid To Another State
From: 94nole-ga on 09 Mar 2005 06:22 PST |
Couldn't add an answer for some reason, but will answer here. If you are a resident of CA, you should file a non-resident return in Iowa reporting only your Iowa income. As a CA resident, file a CA return reporting ALL of your income INCLUDING IOWA income and incllude as part of your CA return, the CA credit for taxes paid to another state. Therefore you will not be taxed twice on the same income. If you were part-year, meaning you moved during the year, then file two part-year returns, one for each state, reporting the respective state's income to the appropriate state. Hope this helps 94Nole www.FLMortgageMoney.com |
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