Thank you! Appreciate the time and input.Yes, my mistake. The municipal fund dividends would be added back in to income.
Todd, thanks for the response. Wouldn't the same rule apply for muni fund($200). Since this is a national muni fund with 20%(dividends) attributable of California.
I am also confused by FTB's table in the link. Based on the post even though individual funds are not deductible, if the aggregate assets are atleast 50% in Federal/CA obligations by assets, they are still deductible based on the obligations percentage?
This has been wildly confusing ride for me. Thank you for the responses so far!
The table you are looking at has nothing to do with California. It's for the 47 states that do not have the 50% rule.
A little disappointment for tax time this year though
Statistics: Posted by ray.james — Thu Feb 20, 2025 12:23 am — Replies 31 — Views 2424