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1. Interest and dividends from U.S. Obligations are state exempt - for every state. When you enter the information, the program picks it up and subtracts it for you. It could have come from an INT (box 3) or DIV (box 12).
2. They are taxable on the federal. MD obligations would not be taxable on federal or state.
Reference: IRS Pub 550
1. Interest and dividends from U.S. Obligations are state exempt - for every state. When you enter the information, the program picks it up and subtracts it for you. It could have come from an INT (box 3) or DIV (box 12).
2. They are taxable on the federal. MD obligations would not be taxable on federal or state.
Reference: IRS Pub 550
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