How do I report exempt-interest dividend earnings on a mutual fund with sources from dozens of states (and only with info on the %, not the $ for each)?

My provider gave me a state tax information sheet that breaks down the source of income only by percentage. I don't know how to translate that into an accounting of all the states where I earned dividends (it looks like it's about 40 states). This is just a couple hundred dollars we're talking about, total, in dividends.

268

Expert Alumni

Feb 21, 2021 11:26:59 AM

You only need to enter the percentage from your state. The rest will be exempt from federal but taxable to your state.

On the screen Which state are your $XXX.XX of exempt interest-dividends from? Check I earned tax-exempt dividends in more than one state.

In the dropdown, select your state and enter an amount. For example if you had $100 in exempt-interest dividends and your sheet says 10% exempt in your state, enter $10 (10% x $100). On the next line, enter More than One State (the last choice in the dropdown). Enter the rest of your exempt-interest dividends. For example, if $10 was exempt in your state, enter $90 in More than One State ($100 - $10 you put for your state).

Why sign in to the Community?

How do I report exempt-interest dividend earnings on a mutual fund with sources from dozens of states (and only with info on the %, not the $ for each)?