Hi
I live in New Jersey and seem like it exempts state tax from interest from US government.
I called Fidelity and they said a Tax specialist could help me compute the US government interest for the following:
"Enter the amount of dividends reported on this 1099-DIV from NATIONAL FINANCIAL SERVICES LLC that represents interest from U.S. Government obligations."
The mutual fund, SPAXX has the following composition:
It also said the following:
"The Adviser normally invests at least 99.5% of the fund's total assets in cash, U.S. Government securities and/or repurchase agreements that are collateralized fully (i.e., collateralized by cash or government securities). Certain issuers of U.S. Government securities are sponsored or chartered by Congress but their securities are neither issued nor guaranteed by the U.S. Treasury. Investing in compliance with industry-standard regulatory requirements for money market funds for the quality, maturity, liquidity and diversification of investments. The Adviser stresses maintaining a stable $1.00 share price, liquidity, and income. In addition the Adviser normally invests at least 80% of the fund's assets in U.S. Government securities and repurchase agreements for those securities."
Given my dividend from it is $1000, how should I compute the number to enter in the turboTax stated in the beginning?
Thank you
Leo
