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State tax filing
ANNNND...if you read the details of the Fidelity footnotes, you will note that NONE of the funds listed held the required minimum CA Bond holdings, such that you are allowed to break out the CA $$ amounts.....thus, you must select "Multiple States" for all of the $$ on the Fidelity 1099-DIV form. (It's the last selection in the State pull-down menu)
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CA, and MN require that the bond fund hold at least 50% of their holdings be in their own state's bonds, before you can break out that state's $$ for possible lower state taxation. IL doesn't allow it at all.
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The same minimum does not apply to individual bonds you may own....but those $$$ would be in box 8 of a 1099-INT form.
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
March 8, 2023
8:18 AM
2,669 Views