"Is it as simple as going through each fund and looking at total
dividends (ex-distributions) and multiplying that number by the
percentage of U.S. treasuries as indicated on the brokerage 1099
brochure or fund managers tax portion of their website?"
"Yes" though California has special limitations:
"California does not tax dividends paid by a fund attributable to interest received from U.S. obligations or California state or municipal obligations IF at least 50% of the fund’s assets would be exempt from California tax when held by an individual"
"Would I still use the same U.S. treasury allocation percentage for each if that makes sense?"
I can't see any other way of doing this. I don't know of any funds that break this information out on a distribution by distribution basis.
Tom Young
