State tax filing

@Dave S7 

 

1)  Easy selection, if you don't want to do a lot of calculations, is to go to the very bottom of the list of states and select "Multiple States" (or "More than one state" if using Desktop software)  (yeah, I know it's not one state, but is allowed.)

 

OR..you can do the following (though it is not required)

 

2)  IF box 8 $$ on a 1099-INT (or box 12 on a 1099-DIV) is a large number.....soemtimes you can get some reduction in your state taxes (if you live in an income-taxing state only), by breaking out $$ from your own state's bonds (& any US territories), from all the rest of the $$.    You check a checkbox under that main dropdown, and you'll see multiple boxes to break out your state's $$ from the rest.   See pictures below on how it is done:

 

3) Note: if tax exempt $$ were in box 12 of a 1099-DIV, CA & MN have severe restrictions on when the breakout is allowed.  IL doesn't allow it at all, i.e. must be selected as "Multi[ple States".   Tax-Exempt $$ in box 8 of a 1099-INT can be broken down by all though.

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How?

 

Desktop software:

 

1099-DIV_TaxExempt_State_3_Desktop.png

 

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Online software:

 

1099-DIV_TaxExempt_State_Online_2.png

 

 

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*