jwbonds
Returning Member

tax exempt bonds more than one state with accrued interest

How does one enter and have applied correctly in TurboTax the accrued interest deduction which needs to be split to more than one state. Specifically, I have tax exempt bonds issued in Illinois and New York purchased last year (2022) that have accrued interest. New York taxes the IL interest so that accrued interest has to be deducted from the gross amount. TT seems to only enter and use the total accrued interest from my purchases, not a state specific amount so it appears my state return is incorrect. Perhaps they do some per centage, but it isn't precise and is inaccurate. Thank you.