Percentage of total ordinary dividends from U.S. Governement Obligations

[Ciao4]

My mutual fund list a percentage of total ordinary dividends from U.S.Government Obligations but does not list any ordinary dividends.

The fund only list qualified dividends.Does not list interest.

Are the qualified Dividends state tax exempt?

[MelindaS1]

I would love to say that, yes, since all your dividends are qualified dividends (in theory), that you should be able to multiply the U.S. % by the qualified dividend amount in box 1b - assuming you live in a state that does not tax U.S. federal interest - to calculate your state-tax-exempt dividend amount; but you may need to request a corrected 1099-DIV statement in order to complete your tax return. Box 1b is supposed to be a portion of box 1a, which is supposed to equal the total of all the rest of the dividend types on the form.

If you have not yet received your 1099-DIV statement, and you are gleaning this information from a year-end investor summary, then you should hold off to complete your tax input until you receive the proper forms. 

If you're waiting on a corrected dividend statement, you may consider filing for a federal and state deadline extension in the meantime. 

[Ciao4]

Hi,

I have received my 1099-D statement.

What does this mean?

How do I proceed? As I would if the qualified dividends were Ordinary dividends?

[MelindaS1]

I do not believe your box 1a should be blank; this seems to be in error. I would contact the mutual fund and ask for a correct 1099-DIV with all the necessary fields completed, including 1a, for clarification and accuracy.