ErnieS0
Expert Alumni

Get your taxes done using TurboTax

Most financial funds will have a tax center that will have a chart showing the percentage of exempt income for each state and/or the percentage of U.S. government interest. Or you can call your fund provider.

 

For example, 5% of your income may be exempt from both state and federal tax. If you don’t know or don’t want to be bothered calculating your exempt percentage, choose Multiple States, the last option in the drop down menu. That will make all your exempt-interest dividends taxable to your state.

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