Entering Tax Exempt Interest Dividend for my state.

[SevenCostanza]

FYI for IL residents: I followed these same instructions for IL but it appears that IL only allows specific interest from state and local government obligations to be exempt from IL income tax.

[FLJohnson]

How did you determine that the figure was 2% for your state?

[Frank nKansas]

You look at a table of earnings for each mutual fund you have and the table will show you how much of the mutual funds' income comes from each state.  For Kansas, I always find that percentage to be very low.  I have found that each mutual fund has the table of their earnings online.

[blondiesorganic]

I have tax exempt income from almost every state listed by percentages on the 1099-div. How in the heck do I get the dollar amounts  for each state without taking a lot of time figuring that out? I this a new requirement by the I RS and if so why don’t institutions put dollar amounts for these dividends? This is for 2024 tax return. 

[Woodguy53]

 If  your brokers documentation added the state to the question: :which state is your $XXXX.00 of exempt interest dividends from"  you need to "zero" out the state that was automatically input - and change the state to "select a state"  in the answer to the first question. Otherwise when you enter the 2% for your state and the remaining to mulitple states  - it will not calculate correctly 

[Woodguy53]

If the numbers didn't change when you corrected it, and it should have - did you leave a state in the answer to the first question?  if you did the system will not calculate based on the amounts you entered for your state and "multiple states".  It will apply all tax exempt to the state in the first question. - you need to change that question to "select a state" at the top of the list. 

[baldietax]

for those going thru this, check for your state exemption on US territories also e.g. Puerto Rico, US Virgin Islands, Guam etc and enter those also rather than lump into the multiple state option.  PR in particular is owned by some funds to juice yield and may be significantly higher % than your own state.