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mckoy2168
New Member

1099-div box 13 has no state listed for information entered under box 11 and 12. What do you select for state?

 
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3 Replies

1099-div box 13 has no state listed for information entered under box 11 and 12. What do you select for state?

box 13 is only done for situations wher you have state withholding done...did you actually have state taxes  withheld on that 1099-DIV?

Box 11 states are done differently....if you are breaking out your own state $$ for box 11, you should be using the interview for those
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
mckoy2168
New Member

1099-div box 13 has no state listed for information entered under box 11 and 12. What do you select for state?

My question about the state is only a followup to the prompts after you enter numbers for 11 and 12 from your 1099div form. The next question I got was what state and my form has no state listed.

1099-div box 13 has no state listed for information entered under box 11 and 12. What do you select for state?

In the Interview...On the followup page where it asks what state issued the dividends

.....the easiest operation it to go to the bottom of the states list and select "More than one state"

Why?  1099-DIV forms with $$ in box 11 are usually from Mutual Bond Funds that get tax-exempt income from a mixture of states....and selection "More than one state" is always acceptable.

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Other optional procedures (  if you do not live in IL, CA or MN):

You might be able to get some state tax reduction...IF...if you calculate the sub-amount in box 11 that came from your own state's bonds (and any US Territories).  But you would have to calculate that amount yourself from documents each bond-fund publishes elsewhere.....an example of a breakdown for an NC resident is shown in the picture below.

BUT...Is it worth the effort ?  Depends...you have to get the information and calculate it yourself for each fund you own.

Example:  Say I have $1000 in box 11 from only one Mutual bond fund.   The Fund documents say 2% came from my state (NC)...so $20 came from NC bonds, and if I break that out I save myself maybe $1 in NC taxes  (NC has a 5% tax rate).  Big whoop.

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

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