turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

My Ameriprise Financial 1099-div does not list a state. Do I assume NC since that is the state I live in?

The question in Turbo Tax I am asking about is " Which state is your $ of exempt-interest dividends from?
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

3 Replies
MarilynG1
Expert Alumni

My Ameriprise Financial 1099-div does not list a state. Do I assume NC since that is the state I live in?

If the Supplemental Info from your broker does not list the State(s) associated with the tax-exempt dividends you received, yes, you can choose North Carolina, your Resident State.

 

Basically, this is for state tax, and your home state won't tax dividends earned there.

 

Here's more info on What State are My Tax Exempt Dividends From?

 

@kimbypickens 

 

 

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

My Ameriprise Financial 1099-div does not list a state. Do I assume NC since that is the state I live in?

You probably have to look though all the backup detail sheets if they sent them with the 1099.  The funds should be listed.  

My Ameriprise Financial 1099-div does not list a state. Do I assume NC since that is the state I live in?

@kimbypickens 

 

i.e. it usually is NOT NC...you only use NC if all the tax-exempt $$ came from NC bonds...and that will happen on a 1099-DIV only if you had a bond fund that invested exclusively in NC bonds.

____-

A simple answer for a mixed Muni bond fund (i.e. not exclusively NC)  is to go to the bottom of the list of states and select "Multiple States".

______

But, if you can find enough information from the fund to delineate "exactly" how much came from NC bonds, you are allowed to (but are not required to) break out those NC $$ amounts to possibly get some reduction in NC state taxes.....BUT, again, you have to get the information from the funds, and your supplemental tax data sheets to do that...otherwise you just select "Multiple States" for the entire lot and move on.

______________

 

IF you do decide to try breaking out the NC $$ you'd do it as shown below:

(NC also exempts $$ from any US Territories):

___________________

1099-DIV_TaxExempt_State_Online_2.png

 

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies