Hi JulieS and RobertB4444, Thanks again for your kind advice.
I entered the values in Federal as per your suggestion which came to total of $249 for California and $2330.82 for "More than One State" out of $2580 . Now State return is asking me the following questions:
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) If I chose Yes, 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 or something else?
(Just FYI: I live in CA and seemed to have earned tax-exempt dividend of around $2580 from Vanguard funds VWLUX, VMLUX, and VWIUX in 2021. )
Thank you so much!
