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Level 3
posted Feb 24, 2020 3:20:02 PM

Calculating "US government obligations" that are exempt from state tax

When calculating US Government Obligations to deduct from state tax, do I add both ordinary income and capital gains prior to applying  the US Government Obligations percentage? Thank you very much for your comments.

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1 Replies
Expert Alumni
Mar 6, 2020 1:58:43 PM

Contact your broker and ask them for the correct information. The math does not work that way.