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psu
Level 2

How should we calculate capital gains from US obligations?

Turbotax is asking me to enter capital gains from US obligations
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3 Replies
HelenC12
Expert Alumni

How should we calculate capital gains from US obligations?

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?

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psu
Level 2

How should we calculate capital gains from US obligations?

State return for Maryland.

AmyC
Expert Alumni

How should we calculate capital gains from US obligations?

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.

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