With a tax exempt vanguard money market fund what is the requirement for filing the necessary Indiana state taxes? Is it true that only federal taxes are exempt and not Indiana state taxes except for possibly the percentage from Indiana and anything purchased pre 2012?
You'll need to sign in or create an account to connect with an expert.
In the Indiana state income tax return, interest received on state or municipal obligations outside Indiana which were acquired after December 31, 2011 are not subject to tax in your Federal income tax return but is taxable on the Indiana state income tax return.
In the Indiana state income tax return, you are allowed to adjust the amount of interest from out-of-state obligations acquired after December 31, 2011 at the screen Interest on Out-of-State Municipal Obligations.
Your broker may provide a breakdown of the municipal interest by state to allow you to report this amount.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
CA_Tax_Payer
Level 3
kimosbey1102@gma
New Member
IroPlissken
New Member
Pngdry
New Member
jesi620
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.