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February 4, 2023
Question

I have a mutual fund (Vanguard) of long term tax exempt bonds. This reports tax-exempt income. But I have no idea which states the bonds are from. Do I need this detail?

  • February 4, 2023
  • 2 replies
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2 replies

Employee
February 4, 2023

Tell the program that the income is from multiple states. It is likely that the income is taxable by your state but laws vary. 

February 5, 2023

Most (if not all states) consider interest and other investment/ unearned income to be allocable to your resident state. However, there could be an exception if the interest is related to a business you have an interest in which operates in a nonresident state.