Hi there, I live in CA and seemed to have earned tax-exempt dividend of around $2580 from Vanguard funds VWLUX, VMLUX, and VWIUX in 2021. Turbo Tax screen "Tax Exempt Interest and Dividends" in State taxes says :
Tax exempt interest from California sources of $249 transferred from your federal return.
Is any of this interest from funds with less than 50% of their assets invested in California and U.S. obligations?
- Yes
- No, all funds are 50% or more invested in California or U.S. Obligations.
Vanguard Supplement info has these percentages for California for those funds:
VWLUX (11.64%), VMLUX (4.5% - CA), and VWIUX (10.07%)
Questions:
1) I chose Yes for the above question, am I correct?
2) Then TurboTax asks me "Enter less Than 50% Tax Exempt Interest"
Please advise how to compute the above. For example: Should I enter $249 or the remaining which is $2330.82 out of $2580?
Thank you so much!
