Skip to main content

Solutions

Products

Recommended products

Questions? We are here to help.
Contact us

Purchase

Questions? We are here to help.

Resources

Screens

Screen NCAdj - North Carolina Income and Adjustments (1040)

Overview

Interest and dividend income is entered on the federal B&D, K1, and K1T screens. Interest and dividend data entered in the statements on these federal screens is utilized in the calculation of state income and adjustments. In those interest and dividend statements, you can indicate if data should be applied only to the federal return or only to the state return. In addition, use of the state postal code and In-State Source % indicates which state should react to the data entered in the federal statements.
  • Enter
    F
     in the
    F/S
     field to indicate that the item is for the federal return only.
  • Enter
    S
     in the
    F/S
     field and a non-
    NC
     postal code in the
    State
     field to indicate that the item transfers only to the state specified and is ignored for federal purposes.
  • For North Carolina source interest and dividends reportable on part-year and nonresident North Carolina returns, you must enter
    NC
     in the
    State
     field in these federal statements. Further, for interest and dividends reportable as North Carolina source for nonresident North Carolina returns, you must also enter a percentage in the
    In-State Source %
     field.
  • Interest from municipal obligations and US obligations from a pass-through entity and reportable on the federal K1 and K1T screens may be adjusted using fields on the federal K1-St screen. If data is entered in these fields on the K1-St screen, the total of all K1 or K1T data for that income type is adjusted by the requested amount for that K1 or K1T. The state return uses the adjusted amount in its calculations. See the federal K1-St screen for additional information.
Part-year and nonresidents may force the instate amounts for US obligation deduction and municipal interest addition on the NCPYNR screen.

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close