The part of calculating % exempt from state taxes for muni bond funds is dreadful for me. I need to find the percentage of income from my own state and US terriories. Each fund company has its own way of displaying information for US terriories, sometimes in a confusing way.I do the same. It took a little bit of time to set it up the first time but now, I just make a copy of last year's spreadsheet and update it with this year's 1099 data and the percentages published by the fund companies. The funds I own don't change from year to year so updating the spreadsheet doesn't take much time. Plus, the funds listed in the sheet are a reminder of which funds typically pay income exempt from state taxes so I don't overlook any of them.I don't hold as many funds as the OP, but I don't find this too difficult...
Simple spreadsheet with:Hardest part was "finding" where each institution puts their info...
- Ticker/Fund name
- amount of dividends/interest (from 1099)
- % exempt from state taxes (from supplemental information from each institution)
- a simple formula multiplying the two together.
Entering the calculated amount into TurboTax was simple.
I also have a section of the spreadsheet listing the URLs where each institution typically publishes the information because as SnowBog said, it can be a challenge remembering/finding this information when I need it.
Statistics: Posted by henryphseven — Sun Mar 10, 2024 6:03 pm — Replies 16 — Views 637