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How can I enter state tax exempt dividends for all 50 states before the app times out?

 
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3 Replies
DawnC
Expert Alumni

How can I enter state tax exempt dividends for all 50 states before the app times out?

Enter half of them and then log out to save your return.   Then go back in and enter the second half.   Or do it in thirds if necessary.  

 

When entering the dividends on the federal return, you can select Multiple States from the dropdown if you:

 

  • Live in a state with no income tax (AK, FL, NV, SD, TN, TX, WA, WY)
  • Live where exempt-interest dividends from other states aren't taxed (DC, IN)
  • Have only a small amount of exempt-interest dividends and aren't concerned with extra state tax
    • Your resident state will tax these dividends or interest if you don't live in an area listed above.
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How can I enter state tax exempt dividends for all 50 states before the app times out?

you shouldn't need to enter tax exempt amounts for every state, you just need 2 entries on that table - one for your home state which will not be taxed on your state return, and one for the rest (subtract the home state amount from your box 12 total) under "Multiple States" which will flow through to your state return as an addition to income.

How can I enter state tax exempt dividends for all 50 states before the app times out?

just to add you may have state tax exemption from US territories also if the fund had exposure to Puerto Rico etc, so it may be a few entries in addition to "Multiple States" to get the full benefit on your state taxes, but certainly not all 50+ are needed.


See this similar post here with more details from @SteamTrain on how to enter this

 

https://ttlc.intuit.com/community/taxes/discussion/re-1099-b-box-12-which-state-is-your-exempt-inter...

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