How do I determine what portion of my capital gains came from U.S. obligations for tax filing?

[chico_tbtax]

Hello Tax Support Team,

TurboTax State section is asking to provide the portion of the total capital gains that came from U.S. obligations.   How do I determine what portion of my capital gains came from U.S. obligations?

I can determine the portion of  the total ordinary dividends that came from U.S. obligations because it is reported by each of the mutual funds as additional information for tax purposes (% of dividends from U.S. government securities).

Thank you for your help.

Regards,

/Chico

[KarenJ2]

I would call your broker.  They would know the answer.

[Hal_Al]

If your mutual fund co. didn't report that with the dividend info, there probably was none.

[chico_tbtax]

I will reach out to them.  Thank you. /Chico

[chico_tbtax]

This is the first time that I was aware of this question.   This is the first time that I notice turbo-tax ask this question; and I have been using turbo-tax for many years.  I wonder if this is a common question in turbo-tax for Maryland state.

Regards,

/Chico.

[MaryK4]

For Maryland, capital gains from the sale or exchange of U.S. obligations should be included-  Dividends from mutual funds that invest in U.S. Government obligations also are exempt from state taxation. However, only that portion of the dividends attributable to interest or capital gain from U.S. Government obligations can be subtracted.

@chico_tbtax

[RR-fromMaryland]

On my 1099-Div from my brokerage firm, I have an item from a mutual fund called "Exempt Dividend".  Do I enter this when turbo tax ask about (state) U.S. Obligations?  I only see items marked "Exempt dividend" and Non-qualified dividend.   Do either of these go in the box for capital gains came from U.S. obligations on the state form?

[Hal_Al]

@RR-fromMaryland 

All amounts on a 1099-Div are in numbered boxes. Enter them that way at the 1099-Div screen.  Exempt dividend are in box 11. 

When you first reach the 1099-Div screen, you need to click the box "my form has info in more than just these boxes"  to get to box 11

[RR-fromMaryland]

Actually, I was asking about the state tax form where it asks about U.S. Government obligations.  Where on my brokerage form do I find how much to enter?

[Hal_Al]

@RR-fromMaryland 

That's not on the 1099-Div.  Even if you get a consolidated tax statement from the broker, it may not be there.  Look in the foot notes.

Otherwise, you'll have to ask the broker for it.  It's usually available on their web site.