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CDBurton
New Member

Form 1099INT box 8

What goes in the "state where exempt interest was earned" when it comes from multiple states? Form says to see help but haven't found it

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2 Replies
ThomasM125
Expert Alumni

Form 1099INT box 8

If the interest was earned in the state you are filing for, then you need to enter that state and the interest applicable to that state to have it be exempt. You will see a screen that says Which state is the tax-exempt interest from after you enter your Form 1099-INT. Below the box where you enter your state, you need to check the box that says I earned tax-exempt interest in more that one state. Then you will see a list where you can enter several states:

 

 

You may need to indicate that your state does not tax all of the interest to see the screen where you enter multiple states:

 

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Form 1099INT box 8

....BUT...if you don't know, or cannot find the exact state breakdown, you just assign all of it to "Multiple States"   (last selection in the list of states.)  You would need to find out that information from whatever information the Broker provides you in your account.

__________

IF you are able to do a breakdown, you only enter the $$ from

a)  your own state..

b)...any US Territories,

c)   and the rest of the $$ are just lumped together as "Multiple States".

_______
Example for a NC resident:  (example is from an older Desktop page...but procedure is the same)

 

1099-INT_TaxExempt_StateSelect_desktop.png

____________*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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