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Investors & landlords
But if box 11 on a 1099-DIV, then that is the correct place for a -DIV form. (Most likely since Mutual Bond Funds have them in box 11 of a 1099-DIV)
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Tax refund went down after entering? Yes, that can happen, especially if you are retired and on SS.
Normally Tax-exempt income in box 11 of a 1099-DIV isn't taxed by the Feds.....BUT any income entered in that area can make more of your SS taxable. So taxes may increase on your SS, until 85% of SS is taxed, then it stops with further tax-exempt income $$.
OF course, it could be some other deduction or credit that includes Tax-Exempt dividends/interest in the "MAGI" calculation, but I can't predict which (if any)
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
‎February 23, 2022
10:15 AM