1099-DIV and variable percentages of US Gov't Securities in varied investments in one larger brokerage account

[TaxyOH]

When a 1099-DIV from a brokerage account is successfully uploaded, but varied individual investments inside that total brokerage account have variable percentages of income from US Government securities, Does the automatic upload account for those varied percentages, or do I need to separate each account out to input a specific amount of my dividend coming from US Government interest?

[SteamTrain]

@TaxyOH 

Sorry, but you have to calculate and break out the US Govt $$ amount from each investment holding yourself....then put the Total on a follw-up page after the main 1099-DIV form.  Usually, you calculate it from the supplemental information, and  % data published by each (appropriate) investment you own.

My holdings haven't yet published their US govt % values. For me, the % values don't usually show up until a couple weeks after the brokerage import is available.

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[AmyC]

The upload is for the one DIV form and you will need to determine the correct amount for your state exemption. This is entered after the form in the federal section. Follow these steps to do the math and enter it:

1. Find your supplemental pages with the percentage of income from US Government Securities
2. Take box 1a, ordinary dividends and multiply it by the percentage in the table
3. Add up all your exempt amounts from your various investments
4. After the DIV is entered, look for Uncommon Situations
5. Check the box that says "A portion of these dividends is US Government Interest"

Be careful though because some states have rules about how much (some require 50% of more in US securities) and which securities (government entities often do not count- like Fannie). You can reply with your state, if you would like our help.

[SteamTrain]

@TaxyOH 

But be careful....various funds and stock dividends all feed into box 1a on the -DIV form.

.....

Thus you do your calculations separately, from only that fund's $$ included in box 1a.

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Just trying to make sure that's clear