@fanfare wrote:
Don't you know what tax-exempt products you're invested in?
P.S. if it is not your own residence state, it's not a very productive investment.
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Opinion:
When investing in individual Muni bonds....For many people, it's great for Federal taxes, even if they did not buy their resident state's bonds. Some states don't have a lot of readily available Muni's to choose from, so the ones readily available may be for other states. For Muni Bond Funds from Mutual fund collections, if the fund company offers a bond fund directed to only, or mostly your resident state's muni bonds, that gives you the best Federal and state tax advantage, but those state-specific fund collections may only be available for a few states
Of course, it's Always best to invest in your home state's bond, but the tax advantage is usually far greater on a Federal tax return, unless your Federal marginal tax rate happens to be at the low end of the scale.
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Of course, it's immaterial state taxwise, if your resident state doesn't have an income tax 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.*
