turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

How do I enter exempt-interest dividends earned from multiple states when my 1099-DIV only gives a percentage per state not an exact dollar amount?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies
KrisD15
Expert Alumni

How do I enter exempt-interest dividends earned from multiple states when my 1099-DIV only gives a percentage per state not an exact dollar amount?

Take the total interest earned and multiply by the percentage, for example 25% of $48.00 would be $12.00

(.25 x 48 = 12) 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

How do I enter exempt-interest dividends earned from multiple states when my 1099-DIV only gives a percentage per state not an exact dollar amount?

warning those tax-exempt numbers are for Federal Purposes Only.  each state has specifics on which of its bonds are exempt from its own tax.  that is usually not the same as the number you see.  generally, the fund provides no breakdown by security so in most cases it's not possible to know how much is exempt. if any, from your state's income taxes.  I would say that your resident state does not exempt any out-of-state muni interest so you may be spending a lot of effort that may produce little or no state income tax benefit.  

 

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question