How to calculate the government interest of ETF BIL ?

[ningji]

If the ETF BIL has a 98% of Income From Exempt Federal Securities in MA.

In Turbotax interest/dividend income,  there's a place to enter US Government interest.

Enter the amount of dividends reported on this 1099-DIV from MERRILLLYNCH that represents interest from U.S. Government obligations.

If the total BIL dividend is $1000, what should i put in U.S. Government interest pls ?

1000*98% = 980 ?

[AmyC]

Yes, the federally exempt portion would be 98% of $1,000 The remaining $20 would not be exempt.

[Diego10ds]

Thanks for your response. I have the same situation, but in Maryland, but I cannot find where to enter the exempt portion for the state in turbo tax. the 1099-DIV didn't address this.

I explore the tax section in turbotax, but I could not find where to enter the adjustment either.