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SPY ETF December Dividend Treatment for California Taxes
I have shares in the SPY S&P 500 ETF. They declared a dividend in December 2023 for shareholders of record in December 2023 but to be paid out January 2024. This January 2024 payment will be included on my 2023 1099 and will be 2023 income for Federal tax purposes. So my two questions are: 1) Does California also consider this as 2023 income, or is it 2024 income since that's when it will be paid? 2) if California considers this 2024 income, will Turbo Tax automatically make the needed adjustments to my CA taxes, or do I need to make the adjustments myself? Thank you!
‎December 15, 2023
12:55 PM