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I received dividends from an investment account and I have some exempt interest in my 1099-DIV(box 11). I know the amount of in-state and out of state income included in Box 11 of my 1099-DIV. I am trying to answer this question presented by Turbo Tax while filling up my IL - State return
After clicking continue in this screen, I am taken to this screen
all I know is my exempt interest is from a national municipal bond mutual fund. What should I select in the screen above and what portion of my exempt interest is taxable in IL?
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According to the definition of a municipal bond, Municipal bonds are issued by state and local governments -- also called municipalities -- to raise money for public works projects like the construction and maintenance of bridges, hospitals, schools and water treatment facilities. Without knowing what the bond is for, pick a couple of entries above to move past the question.
Thank you, for your response. I will give that a try
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