Help with verifying numbers for 1099-DIV with treasury market funds

xilex

Hello, I wanted to double check my calculations for 1099-DIV with dividends from treasury market funds.

1099-DIV form

1a. 12,013

1b. 310

5.  17

12. 174

13. 26

dividend details

VUSXX: 10155.55 (Total Dividends & distributions, all nonqualified)

VCTXX: 147.68 (Tax-exempt dividend), 26.21 (Tax-exempt dividend AMT)

VMFXX: 1332.26 (Total Dividends & distributions, all nonqualified)

VANGUARD FEDL MONEY MKT: 198.22 (Total Dividends & distributions, all nonqualified)

VTSAX: 327.17 (mix of qualified/section 199A dividends)

mutual fund information

VUSXX: U.S. Treasury 80.06%

VCTXX: California 100.00%

VMFXX: U.S. Treasury 17.10%, Fed Home Loan 31.39%

In FreeTaxUSA, I filled in the 1099-DIV page, and marked Yes for "Is this a mutual fund that has U.S. Government interest income?"

The following page is titled "State Tax-Exempt Dividends" and I marked Yes to the question "Is any of your $174 of tax-exempt dividends from a bond issued by the state you lived in (or by a municipality located in your state)?"

There are two subsequent questions. 1) "Enter the amount of your $174 of tax-exempt dividends that was from bonds issued by your state (or a municipality in your state):" to which I entered 148 (subtract box 13 from box 12), and 2) "Enter the amount of your $12,013 of ordinary dividends that are from U.S. Government interest:" to which I entered 8131 from 10155.55 * 0.8006 (because VMFXX is not exempt from California state taxes since < 50% is in USGO).

Did I get these numbers correctly? Thank you.

MatthewD

Hello Xilex,

Thank you for the details. Based on the information you shared, there are several important amounts and codes. The code "VUSXX" and the rate, "80.06%" means that at least 80.06% of the VUSXX amount will be invested in U.S. Treasury Bonds.

The same fo the VCTXX and the rate. Based on what you explained, your calculation seem reasonable.

xilex

Thank you for double checking my work!