US Bonds State tax exemption

Earthshine
Earthshine Newcomer
in State Filing

I want to file the state tax exemption for Dividends on US Govt Bonds because I own FZFXX.

I only want to unlock federal so I can check if there is an option to do this within the 1099-DIV area. I will not need to refile Federal, I just want this to feed into my state tax exemption.

I have filed Federal taxes but not the state taxes yet. Can you help me on the best way to do this? Can I do it directly in state taxes? Thanks

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Answers

  • MatthewD
    MatthewD image
    Hello Earthshine,

    Unfortunately, you need to categorize the bonds on the federal return first, not on the state return. You will need to amend your returns, but you need to file the state return first.

    Since you have already filed the federal return, you will need to file your state return and only then should you file an amendment to make the change to the US Govt Bonds to categorize them that way, so they are not taxable on the state return

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