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Business & farm
American Funds provides a worksheet called State Tax Exclusions for U.S. Government Income. You enter your numbers from box 1a of your 1099-DIV and it multiplies those by US government exclusion factors to give you "your total state tax exclusion" amount. I included an image of this form elsewhere in this string.
For 2024 my exclusion was $3459. I have shown this exclusion amount on Indiana Schedule 2 line 4. Is that correct?
‎February 12, 2025
12:05 PM