What if tax-exempt dividends are from multiple funds, each including 48 different states? Each fund lists % for each state. Do i have to do all the math and enter all 48?

[SteamTrain]

Yes, you have to do the math yourself...unless you tag it all as "More than one state" in the top box.  (that is allowed, but could result in more taxes in your state)

BUT>>>NO, not every state.....You only do your own state and any US territories.

See the example below for an NC resident.

_____________________

IF for a 1099-DIV form, box 11:
1)  IL does not allow you to do the breakdown, and all of it must be tagged as "More than one state"

2)  CA does not allow the breakdown unless the bond fund itself holds at least 50% of it's bond "assets" as CA-issued bonds or as US Government bonds.  " If the mutual fund has at least 50% of its assets invested in tax-exempt U.S. obligations and/or in California or its municipal obligations, that amount of dividend is exempt from California tax"

3)  For a Mutual Bond Fund, MN does not allow the breakdown unless 95% of the interest received was from MN-issued bonds.

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4)  A full breakdown is allowed for any state for individual bonds you own that are reported on a 1099-INT box 8..