Tax questions

March 30, 2000

Members of the Maryland Association of Certified Public Accountants are answering readers' tax questions through April 15.

My wife and I were full-term residents of Maryland in 1999; however, having moved here in 1998, we still have a few interest-earning accounts ($300 interest) in Pennsylvania. Is it OK to report this interest only on our Maryland return or do we have to file a Pennsylvania return as well?

You do not have to file a non-resident return for Pennsylvania. As a resident of Maryland, all of your income, including that earned on intangible assets such as stock dividends, bank interest, etc., is reportable on your Maryland return. Pennsylvania does not tax nonresidents on investment income.

Deana L. Jordan, CPA, McLean, Koehler, Sparks & Hammond, Towson

The above advice is for general purposes only and is not intended as legal, accounting or tax advice. Specific situations may vary.

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