Any Tax Experts?

[runwad]

My DD moved to another state, IN beginning of 2020, she never changed her address with her online bank so her 1099 INT has her home state address, OH.

Will that cause any problems? She doesn't have to file taxes in Ohio only IN.

The interest for 2020 was $92.

She's since went on the online bank and fixed her address. Does she have to request a new 1099 INT and not file her taxes until she gets it? Or is it no big deal?

Thanks

 

[AlohaNow]

Should not cause any problems at all. The address is insignificant, as long as she pays taxes on the interest, the IRS does not care.

 

[tvguy]

IRS isn't going to care. Ohio might wonder why she had income reported there but no tax return filed. But from what I can see, the tax rate for income under $22,150 is zero. However, they might send a letter asking why no tax return was filed, especially if a tax return was filed in Ohio in prior years. A simple letter back stating she no longer lives in Ohio should solve that if it happens.

 

[runwad]

Thanks guys, she actually got in contact with her online bank today and they said they'd do a new statement for her this week. Might as well make sure it's all right to avoid any flags or complications in the future.

 

[_19disnA]

Not a tax expert, but in some places, state/city taxes depend on where you live vs. where you work. I believe you need to secure a new driver's license within a certain number of days of moving your permanent residence to a different state. You can only have one valid driver's license at a time. I assume she now lives in Indiana from what you have posted. If she has a job, what address did she give to her employer? She will get a W2 from her employer that will be part of the tax return she files. To avoid future issues, she should make sure the address information is correct in all places where it is shown.

 

[runwad]

Not a tax expert, but in some places, state/city taxes depend on where you live vs. where you work. I believe you need to secure a new driver's license within a certain number of days of moving your permanent residence to a different state. You can only have one valid driver's license at a time. I assume she now lives in Indiana from what you have posted. If she has a job, what address did she give to her employer? She will get a W2 from her employer that will be part of the tax return she files. To avoid future issues, she should make sure the address information is correct in all places where it is shown.

Yep has a IN drivers license and w2 is IN, just didn't think about changing the address on the online bank when she moved, everything is sent to her by email. She never had any money before so didn't get a 1099 INT statement, this is the first year. Live and learn.