Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 02-11-2009, 11:17 PM
Junior Member
 
Join Date: Feb 2009
Posts: 2
Part-Year Resident

I moved to Maryland last June making me a part-year resident for 2008. While completing my taxes using H&R Block's Tax Cut software, I see that my Maryland is listed at nearly $10,000 more than my wages listed on my W-2s. How can this be. I fear that this is the reason why I owe this year instead of receiving a return.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 02-12-2009, 02:14 AM
TaxGuru's Avatar
Tax Guru
 
Join Date: Jan 2007
Location: New Jersey, USA
Posts: 2,400
Blog Entries: 3
Could you please explain your situation in full, I am not exactly sure what the software is calculating.

You are were a part-year MD resident and so MD should only be taxing you on MD sourced income. I think you are sourcing all the income to MD! Please ensure that you have indicated that you are a part year resident of MD.

__________________
Find a CPA near you!

Ask TaxGuru Please refer to the legal disclaimer.


Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #3 (permalink)  
Old 02-12-2009, 10:36 AM
Junior Member
 
Join Date: Feb 2009
Posts: 2
In the software I have indicated that I am a part-year resident. It asks for what allocation of dividend and interest income were earned in Maryland (and number so small that it can't make a real difference (approximately $16). The software then asks me what portion of my wages were earned in MD and I input all of my wages that were earned in MD (approximately $31,000). It then goes though MD additions, subtractions, and adjustments. The only adjustment we have is our moving expenses. There are no additions. The only subtraction I have is the Maryland Two-Income Subtraction, which we (my wife and I) get the standard subtraction. The software then gives us the standard deduction of $3,908. After all of this it lists our Federal AGI, our MD additions ($0), our MD subtractions ($1,200), and our Maryland income, which it now lists as around $41,000. It makes absolutely no sense to me.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Sold rental property in non resident state adoyle1 Capital Gains 1 02-06-2009 09:03 PM
non-resident gysmiley Miscellaneous 1 02-01-2009 03:25 PM
PRize (NON-Resident) maaz2020 Miscellaneous 0 10-08-2008 12:23 AM
Can my parent apply for Medicare Part B Benefits at Age 64? Kathy Retirement Planning 1 02-23-2008 12:49 PM
Resident alien for tax question? Paolo Miscellaneous 1 03-29-2007 02:39 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning