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If I live in FL and open a CD in another state that has income tax, do I have to file tax return there? |
With the internet offering a variety of options on CDs and other investments, it has become much easier to locate the best options for investments. However, if I open an account in another state that has an income tax (meaning you must file a state tax return), do I have to file a return with them for my earned income in interest? Since I am not a resident there, are there earned income limits below which I would not have to file? I.e. if my earned income on interest is less than $100, then I might be exempt from filing the state return in certain states. No, you won't have to file a tax return in the other state. I'm a Tax Preparer, and we have clients who live in one state and have bank accounts in another state, and they've never had to file returns for the other state. |
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