State tax filing

@Jarhead_68 

 

You need to check your Supplemental Information sheets first.  For my Fidelity account, the Govt Money Market I have, reports their dividends (Including US Treas obligations) only in box 1a&1b of a 1099-DIV form, and not on a 1099-INT.  Those US Treasury Obligations are handled properly in the software on a follow-up page to the 1099-DIV form, and then those $$ transfer to the state forms to be subtracted automatically.  Thus box 3 on a 1099-INT never comes into play.

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The issue some folks are having, is for actual, individual US "AGENCY" bonds they hold (like TVA, FHLB and a couple others) that report $$ in box 1 of a 1099-INT.  Some states have a section in the state software to take those $$ out, and some don't (like my NC doesn't)...thus...some suggestions to move some $$ from box 1 of a 1099-INT to box 3.  (luckily for me , for NC I don't have to do that, since I can enter them in an NC form in the correct area using the Desktop software...but Online users cannot)

 

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