Hey everyone, I need some help filling out the 1099-DIV in TurboTax. I had holdings in Vanguard funds: VUSXX (treasury market), VCTXX (California municipal), and the usual VMFXX (federal money market).
All the VUSXX and VMFXX is nonqualified dividend. The VCTXX has some tax-exempt dividend and tax-exempt dividend AMT. All interest was dividend, as the 1099-INT was all zeroes. The 1099-DIV had a mix of Total ordinary dividends, Qualified dividends, Section 199A dividends, Exempt-interest dividends, and Specified private activity bond interest dividends (AMT).
There is a page in Vanguard 1099-IDV that lists the fund and percentage of income that comes from treasuries or state.
`VUSXX: U.S. Treasury 80.06%`
`VCTXX: California 100.00%`
`VMFXX: U.S. Treasury 17.10%, Fed Home Loan 31.39%, Fed Farm Credit 0.88%`.
I had TurboTax pull the 1099-DIV directly from Vanguard and reviewed to make sure numbers are okay. On a subsequent page, it asks "Do these uncommon situations apply?" Should I mark "A portion of these dividends is U.S. Government interest."?
I will probably have further questions later about how to make sure the California municipal fund tax exemption is correct. But I need to get past this screen first!
Thank you.
