Retirement tax questions

Line 11 on a 1099-DIV, usually refers to tax-exempt bond interest you received from some type of bond fund.

1)  Unless the bond fund you own was specifically targeted to only your own state's bonds, the easiest selection is to go to the end of the list of states and choose "Multiple States"  for it all.   (for the desktop software, the selection shows as "More than one state" ...same thing though).

2)  IF the fund you own is targeted to your own state, or if box 11 is pretty high (say 1,000 or higher), then you can sometimes get some state tax benefit by breaking out just the amount that came from your own state's bonds or any US territories, like Puerto Rico.  But you have to calculate that from data sheets that the mutual fund publishes each year .   Once you calculate that $$ amount you would break it out as shown in the pictures below.   (Illinois doesn't allow this for their residents and Mutual Bond Funds....only for individual IL bond interest reported in box 8 of a 1099-INT.  CA and MN residents have strict limitations on whether they can do it)

 

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