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Get your taxes done using TurboTax
That is correct BUT
(Huge BUT)
For CA $$ received from bond fund collections, CA doesn't allow you to break out the CA $$ unless the bond fund contains at least 50% of it's assets in CA or US Bonds. That does not appear to be even close for the bond fund you indicated. Thus, all of the tax-exempt $$ must be assigned as "Multiple States"
That's one of the reasons that some fund companies have created CA-only bond funds.
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The same is not true if you hold individual CA Muni bonds.......those can be broken down as you noted...but when you hold individual bonds, those $$ are reported in box 8 of a 1099-INT.
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
‎February 19, 2025
3:41 AM