....And I was confused by one Fidelity Govt fund that was marked as not being able to be used by NY, that had almost 55% of its $$ distributions (for 2021) from US Govt bonds.
Then I remembered that the fund has to have 50%+ of its "Assets" in US Govt bonds, not 50%+ of its $$ dividend distributions. That's kind of a subtle distinction in some cases....and each quarter of the year too.
"Dividends you received from a regulated investment company (mutual fund) that invests in obligations of the U.S. government and meet the 50% asset requirement each quarter qualify for this subtraction."
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
