Nancy K
New Member

State tax filing

After many hours and much frustration and study, I have found that the way you must enter dividends from US obligations on TTX is to call them interest.  I got a supplemental information sheet from my investment company that shows the percent US income in the investment I own.  I had to manually calculate the amount that my state does not tax. At some point in the step by step TTX does ask if any of your interest is from US obligations.   TTX does not handle dividends from US obligations.  You have to treat your US dividends as US interest.  That way it will be handled correctly on both your federal and your state income tax. It is my understanding that no states tax this kind of income.  This is a problem that should be fixed by the TTX people.  It is a bug in the programming. It is very confusing, especially if you are keying everything in on your 1099s as printed.