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Returning Member
posted Jun 1, 2019 9:23:50 AM

For a mutual fund with only capital gains income and 7% from U.S Treas. specified, can I reduce the capital gains by 7% so they are not taxed by state?

 Mutual fund 1099-DIV has long and short term capital gains only.  No dividend, no interest. The 1099 also specifies 7.67% of the income is from U.S Treasury.  I understand U.S Treasury income is exempt from state income tax.  How much of the long and short term gain can I attribute to U.S Treasury? 

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1 Best answer
New Member
Jun 1, 2019 9:23:52 AM

Capital gains from the sale of Treasury instruments are not excluded from taxation at the state level, only the interest income.so the answer would be none, unfortunately.

1 Replies
New Member
Jun 1, 2019 9:23:52 AM

Capital gains from the sale of Treasury instruments are not excluded from taxation at the state level, only the interest income.so the answer would be none, unfortunately.