Would Fidelity Municipal Income capital gains for New Jersey, be tax free on the NJ Return?
No. While the interest paid by muni-bonds is non-taxable by the issuing state, capital gains on muni-bond sales is not tax deductible. That would apply to muni bond funds as well as individual bonds.
Would Fidelity Municipal Income capital gains for New Jersey, be tax free on the NJ Return?
No. While the interest paid by muni-bonds is non-taxable by the issuing state, capital gains on muni-bond sales is not tax deductible. That would apply to muni bond funds as well as individual bonds.
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