How to answer “Is any of this interest from funds with less than 50% of their assets invested in California and U.S. obligations?”
This question refers to US government interest and municipal interest earned from Betterment. Below is a screenshot of the supplemental tax form from Betterment. How would I answer the question above for each type of interest shown on the form: A) US government interest, B) in-state municipal interest, and C) out-of-state municipal interest? Thank you!
Betterment supplemental tax form:
Turbotax question from CA state taxes:
You could look at the total amount of interest/dividends you received, compared to the amount shown as US Government and California amounts on your supplemental statement.
If total interest is $100, for example, and Government interest is $50, and California interest is $20, then No, the interest is not from funds with less than 50% of their assets invested in CA and US obligations.