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portion of 1099 int state tax exempt
Fidelity issued me a 1099 int with 4k of interest. 1k are from agency bonds not taxable by state. if i click on my state doesn't tax all of this interest, 100% of the interest gets deducted from the NJ return. It seems to be an all or nothing option. Turbotax was not helpful. Suggested it was a fidelity issue. I'm concerned about changing information on the 1099 so turbotax will correctly calculate it (seems to work if i deduct the agency bond interest in the amount of interest in box 1 and then add the agency interest to box 3 (int on treasury obligations). That's how vanguard handled it. I guess other option is breaking the interest up into 2 separate 1009 int entries?
‎February 29, 2024
11:05 AM