turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Where to enter Income earned from obligations issued by U.S. Territories ?

1099-Div from my brokerage account listed income earned from obligations issued by U.S. Territories, American Samoa, Guam, etc..   Do I check box " A portion of these dividends is from U.S. government interest" and enter the income in the "U.S. Government Interest" box ??  In addition,  1099-Div listed income source breakdown by states.  I suppose I would enter every state listed with the percentage of income from on Turbotax ?  This fund was Vanguard  INTM TM TX-Ex ADM, symbol VWIUX. 

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
MarilynG1
Expert Alumni

Where to enter Income earned from obligations issued by U.S. Territories ?

You can enter the total amount of dividends earned from all states as shown on your 1099-Div.  You don't need to list every state individually. 

 

You can break out the portion of income that is classified as 'US Government Interest'.

 

Here's more info on reporting US Government Interest. 

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

3 Replies
MarilynG1
Expert Alumni

Where to enter Income earned from obligations issued by U.S. Territories ?

You can enter the total amount of dividends earned from all states as shown on your 1099-Div.  You don't need to list every state individually. 

 

You can break out the portion of income that is classified as 'US Government Interest'.

 

Here's more info on reporting US Government Interest. 

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Where to enter Income earned from obligations issued by U.S. Territories ?

Thank you.  To follow up, for income source from New Jersey, do I select New Jersey in the state drop down menu and enter the percentage of income amount from New Jersey ?  I would like to ensure the  income from New Jersey is exempt from New Jersey income tax.

 

For New Jersey tax return,  the income source breakdown by state table from Vanguard fund apply to capital gain?  Turbotax says I can subtract the exempt amount of distributions from New Jersey and federal obligations (U.S. Territories included?) under Disposition of Property, Capital Gain Distribution.

 

MarilynG1
Expert Alumni

Where to enter Income earned from obligations issued by U.S. Territories ?

Yes, you can select New Jersey from the dropdown and enter the % of income derived from there.

 

If you are a New Jersey resident, all of your capital gains, except gains from the sale of exempt obligations, are subject to tax.

 

Here's more details from the NJ Dept. of Revenue

 

This link has detailed info on Dividends and Distributions

 

@ResidentOB98 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies