Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 2
posted Mar 13, 2022 9:28:41 AM

How should we calculate capital gains from US obligations?

Turbotax is asking me to enter capital gains from US obligations

0 3 1021
3 Replies
Expert Alumni
Mar 13, 2022 9:49:12 AM

Please clarify. Are you being asked to enter capital gains from US obligations on your federal return or on your state return? If state return, what state?

Level 2
Mar 13, 2022 3:42:04 PM

State return for Maryland.

Expert Alumni
Mar 15, 2022 5:07:44 PM

Mutual fund dividends attributable to interest received by the fund from U.S. government obligations are exempt from Maryland income tax. On your statement from your mutual fund, there should be footnotes, pages, something that tells you the percentage of capital gains from US obligations. You may need to call your broker for the informaton.