I have 2 funds that generated tax exempt dividends totaling $1272.92. In one, 8.39% is exempt in my state and 2.09% in US possessions for a total of 10.48%. 10.48% of the the total earned of $816.19 is $85.54.
In the other fund, 10.04% is exempt in my state and 3.28% in US possessions for a total of 13.32%. 13.32% of the the total earned of $816.19 is $60.85.
I added those together and entered the total of $146.39 as the tax exempt income for my state. I entered the balance (1272.92-146.39) of 1126.53 as the total for multiple states.
Is this the correct way to handle this? Appreciate the help!
