@hslettel
That sounds exactly right.
a BUT though.
It does depend on what state you live in. This is for Mutual Bond Funds or ETFs (not limited if they own individual bonds )
1) For UT residents, they can include some other states (states that don't tax Utah bonds)
2) IL residents cannot do the breakdown at all for Mutual Fund Bond collections and ETFs ...only for individual bonds they own.
3) CA has severe limitations, and you don't appear to be anywhere near their limits. They require that at least 50% of bonds in the fund must be from CA or US Obligations.
4) MN used to be 50% too, but I've read they recently have changed to 95% (not sure this bump-up is true yet)
Might be some strange things in a few other states.
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
