I imported my brokerage's 1099 composite into Turbotax. While Turbotax does appear to automatically subtract (from CA taxation) US Treasury interest (t-bills, notes, bonds) when copying federal info into CA 540, I don't think it's recognizing interest from certain ETFs and bonds as also state-tax exempt. Is anyone having similar issues and is there a manual adjustment fix? Or should I efile the return as is and manually amend it later?
Examples:
Schwab US treasury money fund SNSXX (99.99% holdings are government obligations)
ishares 20+ year treasury bond etf TLT (99.19%)
ishares 20+year treasury bond buywrite strategy etf TLTW (98.67%)
Federal Home Loan Banks US agency bond FHLB
All of these, as best to my knowledge, are either completely or almost all CA state-tax exempt.
