I'm stuck on 1099-DIV Exempt-Interest dividends. It's asking me to select the state(s) yet this is from a Charles Schwab account and it's not listed in the supplemental.

[ziiz2112]

How to I get past the step?

[baldietax]

depends the source of those dividends, this information will be available in a tax supplemental from the company that runs the fund.

when you say "not listed in the supplemental" are you referring to this from Schwab - they will only provide information on their own funds

https://www.schwabassetmanagement.com/resource/2025-supplementary-tax-information

[baldietax]

and just a note when you get this information you don't need to enter every state - just the ones tax exempt to you (your home state but also look out for the territories which may be exempt in your state - Puerto Rico etc) and the rest you would enter as "Multiple States".

[SteamTrain]

@ziiz2112 

Annnnd, if you don't want to do the breakdown...you should select  the first button for one state, THEN just scroll to the bottom of the list of states and select "Multiple States"  (You do not select your own state for that first button, unless every $$ in box 12 for the the funds you owned invested in your own state's bonds)

________________________

If the $$ in box 12 gets large, then it may become advantageous for you to select the second button and do a breakdown.

As an example: if box 12 is $1,000, and I did a breakdown for My state (NC) and the fund indicated that  2% of the box 12 $$ came from NC bonds:

Then I'd break it down as:

"NC"......................$20

"Multiple States"...$980

THUS...for my efforts:

Since NC taxes that income at ~4%...that saved me a whole $0.80 in state taxes

IF box 12 was $10,000 for the same situation, the breakdown would save me $8 of state taxes.

_______________

What it would be for your own state depends on the % of box 12 income from the fund that came from your state.  (for my state (NC plus US Territories), it rarely exceeds 2% of the box 12 amount)

AND.....if you live in a state without an income tax...you just choose the first button and select "Multiple States"

[ziiz2112]

Thank you

[CvilleMom1]

I have this same question!  The states aren't listed on the dividend detail section of my 1099, nor are the percentages. But I guess I could calculate the percentages if I had the state information but I don't. What now?

[SteamTrain]

@CvilleMom1 

For whatever bond funds you own, you have to get the state breakdown listings from that Bond Fund company.  Find their telephone number and call their reps...they can point you to where they have PDF form downloads of the appropriate state % listings.....(if you can't find it on your own)

OR

...if you don't care....you can jus select "Multiple States " for all of it.

[baldietax]

@CvilleMom1 you need to go to the website for the fund companies involved and get their year-end tax supplemental letter which lists the %s to apply

[CvilleMom1]

Thank you! Sure seems like they should include this info on the statement, would be value-added service to their clients.  Appreciate your help.

[CvilleMom1]

Thank you! Appreciate your help.  It would such a value-add to just include this information on the 1099.