@jr72
Not necessarily. For a 1099-DIV..
1) US Govt bond interest is a part of box 1a $$....but whether the Mutual funds you have actually held any US bonds at all, depends on what mutual funds you own.....so all of box 1a could be simply stock dividends or Corporate Bond interest...which is both Federal and State taxable.
2) Tax-Exempt Municipal bond interest from Mutual funds is reported in box 11.....that also depends on what Mutual funds you had, and whether that Mutual fund held any Municipal bonds at all. Many hold only Stocks. So box 11 could well be empty.
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____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
