Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
popd
New Member

State tax exclusions from municipal and us territory obligations Where do I enter on Virginia state tax?

Edward Jones sent additional tax information Potential State Tax exclusions.  How do I enter these on Virginia State Tax form?

3 Replies
Rachel_W
Level 4

State tax exclusions from municipal and us territory obligations Where do I enter on Virginia state tax?

You will indicate the portion of Dividends that are excludable on your Virginia Tax Return within the 1099-DIV section.

Follow these steps :

  • Open your Tax Return
  • Click on the Federal Tab at the Top
  • Click "Continue"
  • Click "I'll Choose What I Work On"
  • Scroll down to the Investment Income section and click Start/Update next to Dividends on 1099DIV
  • Click "Edit" next to your Edwards Jones 1099DIV
  • Click "Continue" 
  • "X" the box that says "A Portion of these Dividends is US Government Interest"
  • Click continue and it should take you to a box where you enter the US Government Interest (Click on Screenshot Below)

If this answer doesn't resolve your issue, please comment below so I can assist you further.

darla1
Level 2

State tax exclusions from municipal and us territory obligations Where do I enter on Virginia state tax?

Thank you, Rachel.  This was very helpful.

SteamTrain
Level 15

State tax exclusions from municipal and us territory obligations Where do I enter on Virginia state tax?

@darla1 

 

(IF you live in CA, MN or IL, there are severe restrictions on whether you can break out your own state $$ and any US Territory Bond interest from box 11 of a 1099-DIV form

............and note that Rachel's answer above is actually used for breaking out US Treasury bond interest that is included in box 1a of a 1099-DIV form, and not for State and US Territory bond interest in box 11 of the -DIV form)

______________________

So....For states that have an income tax

 

The actual allocation of box 11 $$ on a 1099-DIV to your own state, or any US territories, is handled on one of the pages following the main 1099-DIV form...see the examples below for an NC resident:

_____________________

 

1099-DIV_TaxExempt_State_1a_Online.png

 

___________________________

 

1099-DIV_TaxExempt_State_1b_Online.png

*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
Dynamic AdsDynamic Ads
Privacy Settings
v