1099 DIV

MillieD1 — Thu, 11 Apr 2024 00:35:53 GMT

On for 1099 DIV FORM there is no state listed for Exempt Interest dividends. Do I enter my state? The brokerage LLC is in NM but the payees address is NJ. What state do I enter?

Re: 1099 DIV

Hal_Al — Thu, 11 Apr 2024 01:08:43 GMT

No, you do not enter a state at the 1099-DIV screen.

Later, in the 1099-DIV interview you will encounter a place to enter the NM dividends, if any.

If your mutual fund company provided you a breakdown*, you are only interested in your home state**. Multiply the % for your state by your total tax exempt dividends to get a $ amount (you can't enter the % in TurboTax [TT]). When asked which state, check the box "I earned tax exempt dividends in more than one state". In the drop down menu, select your state and enter the $ amount you calculated. In the 2nd box, select "More than one state*" (at the bottom of the scroll down list) and enter the remaining dollar amount.

*Most mutual funds will provide a breakdown. But you usually have to ask for it, or find it on their web site.

**Your state will tax all the dividends except the dividends from municipal bonds from your state and US Territories.

For details on how to enter, see: https://ttlc.intuit.com/community/state-taxes/discussion/re-exempt-interest-dividends-are-entered-from-form-1099-div/01/1318344/highlight/false#M58913 Most particularly, see the screen shot at that link.

Re: 1099 DIV

Bsch4477 — Thu, 11 Apr 2024 01:12:03 GMT

Whether the dividends are exempted from tax by your state can usually be found in the information accompanying the 1099-DIV.

topic 1099 DIV in State tax filing

1099 DIV

Re: 1099 DIV

Re: 1099 DIV