I am doing taxes and for my mutual fund supplemental information, I received these pages (See screenshots). So when filing taxes I think I would answer yes to, "Is this a mutual fund that has U.S. Government interest income?" It is asking me to put the amount. I see I have 0.03% in US Treasury and 0.01% in Fed Home Loan. I think I would be adding both together to get 0.04% since I think both use government interest income. Where would I find the amount to enter in though? Would I take 0.04% from the income total amount of my 1099, do I take it directly from the security total of 10,048, or where do I get this amount? I attached two seperate screenshots.
You'll need to sign in or create an account to connect with an expert.
The amount due to possible government income is trivial. Just answer “no”.
If I answer no, would it not matter? From my understanding, if anything, I would owe a little more in taxes if I put the percentage in because they would be giving me an exempt on that amount correct? I am in CA if that makes a difference.
To be tax exempt in California more than half of the assets in the fund have to qualify to be exempt by California. If not, none are tax exempt.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
DtaxPayer
Level 3
dombhuphaibool
Level 1
n-trimble
New Member
mbshadow1
New Member
frostily0495
Level 3