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February 18, 2024
Question

Schwab U.S. Treasury Money Fund. - SNSXX

  • February 18, 2024
  • 1 reply
  • 0 views

Hello 

 

First time dealing with a treasure money market fund. It is supposed to be CA state-free tax fund. However, when the amounts are added in TT H&B 2023 Desktop version, it increases the state owned tax.

How I do enter it correctly? 
It seems the fund is Schwab U.S. Treasury Money Fund is 99.61% free of CA state tax. 

 

This is what I am doing:
- Enter the amount of 1099-Div 1a (this is the sum of non-qualified + qualified div)
- Enter the amount of 1099-Div 1b (qualified div)
- Select "a portion of these Dividends is U.S Government Interest"

If the non-qualified div from SNSXX is $1000, What number do I enter here?
Or should the process be different?
 

    1 reply

    AmyC
    Employee
    February 20, 2024

    Reading the form you posted, it says enter Box 1a ordinary dividends times the percentage listed equals the state exemption.

     

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