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How do I handle Exempt Interest Dividends when I don't know what state munis are in the muni fund?

DaniK
Level 2

I would like to just mark the interest fully taxable for the client's state (it's a small amount) but I'm unsure what to put in that box and it comes up an error.  What has everyone else done?

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IRonMaN
Level 15

On the interest line on schedule B, enter XX as the state code.


Slava Ukraini!

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9 Comments 9
IRonMaN
Level 15

On the interest line on schedule B, enter XX as the state code.


Slava Ukraini!
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DaniK
Level 2
Thank you! If I did have the breakdown, is there another spot to put the percentage that's state exempt too?
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IRonMaN
Level 15
Just use two lines - one for state exempt and one for not exempt.

Slava Ukraini!
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DaniK
Level 2
I really don't know why I never think of that.  Thank you!
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IRonMaN
Level 15
You betcha!
You would be surprised to know all of the things I think of.  Mostly totally useless thoughts ----------------- a lot of anvils to the head will do that to you :smile:

Slava Ukraini!
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DaniK
Level 2
You need to be careful, you can't regrow brain cells!  
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IRonMaN
Level 15
But you can buy them from ACME - cheap.  But then again, maybe that is part of my problem.

Slava Ukraini!
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DaniK
Level 2
They might blow up.  Just sayin'.  Can't trust stuff from ACME.
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IRonMaN
Level 15
Now someone tells me :open_mouth::open_mouth:

Slava Ukraini!
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