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Level 1

Question

On 1099-B you ask which state is my exempt interest is from. I don't see this on the form other than the address of my investment advisor. How do I answer this question

Forum|Forum|4 years ago
February 24, 2022
2 replies
26 views

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TurboTax Premier Online

Level 15

Many investment advisors include supplemental information concerning foreign source income and state exclusions.

You may find such information accompanying your tax documents.

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

Level 15

For small amounts in box 11 of a 1009-DIV or box 8 of a 1099-INT it usually easiest to select "Multiple Staes" from the very end of the pop-up list of states.

Otherwise, for a 1099-DIV form, you have to use separate lists from your Broker/Mutual fund to calculate the exact amount from your own states bonds and break that out.

IF in box 8 of a 1099-INT, you have the supplemental information sheet to break out any interest from your own state's bonds....and Multiple States for all of the rest.

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IF you don't break out your own state:

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IF you "choose" to break out your own state's $$ AND have figured out how to calculate the proper amounts:

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*