which state shall I pick?

Forum|Forum|1 year ago
February 10, 2025
2 replies
7 views

Hello,

I have a 1099-DIV which has " exempt interest dividends $37.34 for BOX 12 and IL for BOX 14.

The last page of this 1099-DIV states that this tax exempt dividends from non classified securities, Western AST intermediate term muni found A"

When I fill info for this $37.34 on turbotax premier online version, It ask me from which state that I earned this tax exempt dividends, see the attachment:

How shall I CHOOSE the answer?

Thanks.

TurboTax Premier Online

DavidD66

Level 15

You should select "Illinois" as the state.

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danilolAuthor

Level 5

Thanks

SteamTrain

Level 15

@danilol @DavidD66

NO....You do NOT select IL....you go to the end of the list of states in the top selection box and select

"Multiple States"

IL does not allow break-outs of IL MUNI interest from any mixed Bond Funds. i.e. $$ shown in box 12 of a 1099-DIV.....they only allow it for individual IL bonds you actually own, and $$ issued in box 8 of a 1099-INT.

_____________________________

Even if IL did allow it to be broken down, that Fund invests in multiple state's bonds, so only part of that $37 would be IL interest (~14.65% of it).

Box 14, 15, 16 only relates to any state income taxes you might have had withheld for Any of the $$, in Any of the boxes, on the 1099-DIV.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*