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Author: AlisonWonderland Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121261  
Subject: Two part-year state returns Date: 1/3/2002 9:17 AM
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Daughter graduated and got a job in MA in June. To pay for school, redemptions were made from mutual funds while she was still a VA resident. There may be fund distributions at year end, but the fund company still has her address in VA.

Will those distributions (if any) be considered VA income (since the fund company thinks she's a VA resident) or MA income (since that's now her legal residence)?

And if anyone has any experience dealing with part-year returns for either MA or VA, I'd be glad to hear about it.

Thanks!

~~ Alison
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Author: pmarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 56717 of 121261
Subject: Re: Two part-year state returns Date: 1/3/2002 8:58 PM
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Will those distributions (if any) be considered VA income (since the fund company thinks she's a VA resident) or MA income (since that's now her legal residence)?

They're income in the state where she resides when they're made.

And if anyone has any experience dealing with part-year returns for either MA or VA, I'd be glad to hear about it.

IIRC the VA form is the PY730. It's pretty straightforward. You allocate income (and exemptions and deductions) based on residence. Actual numbers, not ratios, are used.

Phil Marti

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Author: AlisonWonderland Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 56721 of 121261
Subject: Re: Two part-year state returns Date: 1/3/2002 9:18 PM
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Thanks, Phil!

IIRC the VA form is the PY730.

Close <g> -- it's 760-PY. I took your earlier suggestion and got a copy at the library for 2000, and will be writing for the 2001 forms.

As always, thanks!

~~ Alison

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Author: 2195501y Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 56772 of 121261
Subject: Re: Two part-year state returns Date: 1/4/2002 6:01 PM
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Hi Alison,

MA tax forms are online at:

http://www.dor.state.ma.us/forms/inctax01/incomtax01.htm

Your daughter needs Form 1-NR/PY. The form is realy straightforward. Your daughter can deduct her moving expenses on it.

As for distributions, my understanding is that if she resided in MA at the time of distribution, she'd have to include them into her MA return.
2195501y

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Author: AlisonWonderland Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 56825 of 121261
Subject: Re: Two part-year state returns Date: 1/6/2002 2:32 PM
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Your daughter needs Form 1-NR/PY. The form is realy straightforward.

Thanks. I was able to download the form, but not the schedule that may or may not be needed. We shall see.

And I don't think she has much in the way of moving expenses -- unless we can include OUR costs for getting her there originally (just kidding!). But I'll mention it to her.

Again, thanks for the responses.

~~ Alison

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