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smbo3283
New Member

How do I report exempt-interest dividend earnings on a mutual fund with sources from dozens of states (and only with info on the %, not the $ for each)?

My provider gave me a state tax information sheet that breaks down the source of income only by percentage.  I don't know how to translate that into an accounting of all the states where I earned dividends (it looks like it's about 40 states).  This is just a couple hundred dollars we're talking about, total, in dividends.
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1 Reply
ErnieS0
Expert Alumni

How do I report exempt-interest dividend earnings on a mutual fund with sources from dozens of states (and only with info on the %, not the $ for each)?

You only need to enter the percentage from your state. The rest will be exempt from federal but taxable to your state.

 

On the screen Which state are your $XXX.XX of exempt interest-dividends from? Check I earned tax-exempt dividends in more than one state.

 

In the dropdown, select your state and enter an amount. For example if you had $100 in exempt-interest dividends and your sheet says 10% exempt in your state, enter $10 (10% x $100). On the next line, enter More than One State (the last choice in the dropdown). Enter the rest of your exempt-interest dividends. For example, if $10 was exempt in your state, enter $90 in More than One State ($100 - $10 you put for your state).

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