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Should I have two line items or one on the exempt-interest dividends page for a 1099-DIV when I lived the entire year in a state that doesn't have state income tax (FL)?

Eg, do I need a line item from Florida and another for Multiple States with the total between the two equaling my exempt-interest dividends? Or, since I don't have state income taxes in Florida, do I just need a single line item for Multiple States with the exempt-interest dividends as reported directly on the 1099-DIV?
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3 Replies

Should I have two line items or one on the exempt-interest dividends page for a 1099-DIV when I lived the entire year in a state that doesn't have state income tax (FL)?

@jmcarbery+turbotax 

 

Since you live in FL......you only need to indicate that all the $$ are from "Multiple States".

__________________

 

For people who live in states with a state Income Tax, they could get a state income deduction by indicating what $$ came from their own state's bonds (and any US Territories)...but the reminder would be indicated as one value for "Multiple States"

 

(With some special subtle details on what can be included for those who live in CA, MN, IL, or UT)

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

Should I have two line items or one on the exempt-interest dividends page for a 1099-DIV when I lived the entire year in a state that doesn't have state income tax (FL)?

Thank you! Would be nice if TT did this automatically since it already knows my home state. For those that have state income taxes would be even nicer if you could import the supplemental info to further reduce confusion and effort!

Should I have two line items or one on the exempt-interest dividends page for a 1099-DIV when I lived the entire year in a state that doesn't have state income tax (FL)?

@jmcarbery+turbotax 

 

Yeah, but then thousands of folks move states part way thru the year, and then it gets messy again for the state they moved from-or-to.  TTX has trouble enough getting all the complex details programmed in in the first place.

 

For the Supplemental details...that might happen ALL of the tax software companies agree with the major Financial institutions on some kind of common format for the transmission of those "Supplemental" details (when needed)......but I don't see it ever happening as it would be a programming nightmare.

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