1. Yes, the interest from the treasuries is tax-free in CA.
2. No, the interest from the treasuries is still tax-free in California. You have to do the math to make the subtraction as a CA adjustment.
Be sure to keep your worksheets in your tax file so that you can remember what you did (in case anyone ever asks).
P.S. "If the treasury obligations is less than 50% of treasury bonds, the full amount of dividends is still taxable in CA for 2020."
It sounds like you read this someplace - can you tell me where?
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