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Should I select only one state or multiple states for exempt-interest dividends on 1099-div? No single state is listed other than the 47 states and their income tax info.
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Should I select only one state or multiple states for exempt-interest dividends on 1099-div? No single state is listed other than the 47 states and their income tax info.
Unless you are willing to go thru the calculation to break out JUST the amount from your own state's bonds, you would select "Multiple States" for all of it
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IF you are going to break out your own state's $$ then you check the selection that displays the extra boxes
(note, for a 1099-DIV, box 11, this is not allowed by Illinois, and CA & MN have severe restrictions on when it is allowed. NJ also allows DC to be listed as NJ-exempt, and UT also exempts a few other states bonds). The amount actually from your own state's bonds would have to be more than ~$50 or $100 before it had much of an effect.
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Example is for a NC resident:
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Should I select only one state or multiple states for exempt-interest dividends on 1099-div? No single state is listed other than the 47 states and their income tax info.
Unless you are willing to go thru the calculation to break out JUST the amount from your own state's bonds, you would select "Multiple States" for all of it
____________________________________
_____________________________________
IF you are going to break out your own state's $$ then you check the selection that displays the extra boxes
(note, for a 1099-DIV, box 11, this is not allowed by Illinois, and CA & MN have severe restrictions on when it is allowed. NJ also allows DC to be listed as NJ-exempt, and UT also exempts a few other states bonds). The amount actually from your own state's bonds would have to be more than ~$50 or $100 before it had much of an effect.
____________________
Example is for a NC resident:
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