I see that TurboTax provides a place under "Adjustments to Income" & "Investment Income Expenses" but I don't quite understand the instruction. I paid a few thousand dollars of advisory fee so I would really like to deduct it properly.
It said "if you had expenses related to producing California-taxed income that is not taxable at the federal level.... enter the amount as a positive number". (See screen capture below.) My investment is made up of CA municipal bonds (tax exempt-36%) and other bonds (taxable-64%). I don't see which portion of the investment is not taxable at federal but taxable at CA... How should I figure out what to fill in? Thank you!
