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namowxat0
New Member

Where would I enter from my Edward Jones statements the potential state tax exclusions from government obligations?

 
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1 Reply
AmyC
Expert Alumni

Where would I enter from my Edward Jones statements the potential state tax exclusions from government obligations?

You have two possible government exclusions:

Federal

When you enter US Obligations from your 1099-INT and 1099-DIV, the program will automatically remove the income from your state. The amounts should be listed in the correct boxes or you may need to make an adjustment.

For the 1099-DIV, US obligations are normally in box 12 and no action is required. If they are a percentage of some other amount and not listed separately, select the top option of US Government interest under uncommon situations.

State

You have exempt interest dividends that might be exempt in your state. Follow these steps to determine your state amount:

  1. You need to look at the many pages of attached paperwork.
  2. Find the exempt interest and dividends section.
  3. Then look at the states that created the dividends.
  4. Is your state in the list?
  5. Find the percentage for your state
  6. Multiply the percentage times your total in box 11
  7. This is your state exempt amount

If your state is not on the list, you have none from your state. You only care about the states where you file taxes.

 

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