Tax exempt dividends

[joanne373]

turbo tax does not seem properly figure the tax exempt dividend interest amount.   I entered the dividend amount and the tax free interest amount, but it did not transfer the correct amount.  does anyone else have this problem

[SteamTrain]

high or low amount?

1) For the TOTAL base amount on the form 1040, lien 2a, the amounts from box 11 of a 1099-DIV, and box 8 of a 1099-INT add into line 2a (a few folks also have forms K-1 with an amount that adds in).

2) The amount on line 2a can be pushed higher than that total if you also had a form 1099-OID with tax-exempt entries on that form.

3) The amount on line 2a can be pushed lower than that total, if you had $$ reported in box 13 of the 1099-INT form.  It can also be lower if you reported accrued interest this year for a bond purchased in 2019 (and sometimes the last half of 2018).

[Anonymous]

try entering the tax exempt dividends on a new 1099-div.   delete the entry everywhere else.