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RHF52
New Member

Virginia tax due on federal exempt-interest dividends

How do I calculate the Virginia tax due on federal exempt-interest dividends listed on my 1099 div statement? The exempt-interest dividends are from the T Rowe Price Tax Exempt Money Market Fund

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Virginia tax due on federal exempt-interest dividends

T Rowe price should provide the % of fund's dividends by state, if not in your 1099-DIV/consolidated statement then go to the T Rowe website they should have a page for supplemental tax info by fund.  Try here

https://www.troweprice.com/personal-investing/resources/planning/tax/fund-specific/t-rowe-price-tax-...

 

Presumably this fund is hitting Box 12 on your 1099-DIV.  After inputting the 1099-DIV there should be an interview screen where you can specify the state(s) the Box 12 dividends came from.  You don't need to put in each state, just Virginia amount based on the % from the fund, and then the balance as "Multiple States".  Then check you see the Virginia amount flowing to your VA state return as a subtraction to income.

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