I have investments in American Funds, and some of the dividends are tax-exempt. They provide a 1099-DIV and provide two worksheets. Here are the titles:
1. Federally tax-exempt income dividends: State tax exclusion worksheet
2. State tax exclusion for U.S. government income worksheet
Only one mutual fund has a value in Box 12, the one with "tax-aware" in the title.
Both of them talk about state tax exclusions, and I am confused if they apply to federal tax or (Indiana) state tax. And, of course, exactly how to enter those into TurboTax.
I have already downloaded the 1099-DIV from American Funds directly into TurboTax.
Can someone advise on how to handle these documents?
