DawnC
Expert Alumni

Get your taxes done using TurboTax

If you want to subtract them out, you need to know the amount.   Otherwise, you won't be able to deduct from your state return.

 

When entering the dividends on the federal return, you can select Multiple States from the dropdown if you:

 

  • Live in a state with no income tax (AK, FL, NV, SD, TN, TX, WA, WY)
  • Live where exempt-interest dividends from other states aren't taxed (DC, IN)
  • Have only a small amount of exempt-interest dividends and aren't concerned with extra state tax
    • Your resident state will tax these dividends or interest if you don't live in an area listed above.

You can find the state on more detailed documents (like supplemental forms) from your financial institution/dividend payer.

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