I have one 1099-div that has multiple states with tax exemptions (actually, 31 states)
When I enter all of these states with their associated values, the program tells me the sum of the individual values does not sum to the total value in box 12. The data I have from my broker is given in percentages. Total from box 12 is $941.71 - the data I have entered is shown in the table:
Pennsylvania | 13.82 | 130.14 |
New York | 10.15 | 95.58 |
New Jersey | 9.07 | 85.41 |
Texas | 8.61 | 81.08 |
Illinois | 7.57 | 71.29 |
California | 6.37 | 59.99 |
Alabama | 4.57 | 43.04 |
Massachusetts | 4.28 | 40.31 |
Arizona | 3.81 | 35.88 |
Connecticut | 3.79 | 35.69 |
Florida | 2.99 | 28.16 |
South Carolina | 2.97 | 27.97 |
Colorado | 2.73 | 25.71 |
Minnesota | 2.2 | 20.72 |
Missouri | 2.16 | 20.34 |
Tennessee | 1.83 | 17.23 |
North Carolina | 1.73 | 16.29 |
Iowa | 1.48 | 13.94 |
Puerto Rico | 1.47 | 13.84 |
Wisconsin | 1.38 | 13.00 |
Michigan | 1.05 | 9.89 |
Indiana | 1.04 | 9.79 |
Georgia | 0.9 | 8.48 |
Hawaii | 0.75 | 7.06 |
Ohio | 0.69 | 6.50 |
Louisiana | 0.58 | 5.46 |
Washington | 0.54 | 5.09 |
District of Columbia | 0.52 | 4.90 |
Virginia | 0.44 | 4.43 |
Nevada | 0.29 | 2.73 |
New Mexico | 0.19 | 1.79 |
$941.71 |
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NO...You're doing unnecessary work. (probably some strange rounding in your situation though)
You only do Your own state, plus any US Territory (Puerto Rico etc), and the rest are lumped together as one entry as "Multiple States" (Online software) or "More than one state" (Desktop software).
(Unless you live in MN, CA, IL.....and UT is somewhat different too)
_________________
Example for an NC resident:
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