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Get your taxes done using TurboTax
Absolutely Correct.
AND indicating the US bond interest amount only has an effect for your state taxes, since Your state tax department won't tax the US bond interest, so it could help with state taxes if the $$ amount is significant.
For every $20 you indicate as US bond interest, it might save you about $1 in state taxes (if at a 5% state tax rate)….so you kind-of have to decide whether it's worth your effort to dig out the exact $$ amount or not, Indicating the US bond interest sub-portion from your fund distributions is not required by any state as they don't mind if you pay a bit more in state taxes.
ANNND....If you live in a state without a state income tax, you wouldn't bother indicating that amount at all.
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
March 22, 2020
5:11 AM