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saddieernie
January 30, 2023
Question

mutual fund andUIT supplemental information

  • January 30, 2023
  • 1 reply
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I received a form Mutual Fund and UTI supplemental. information.  I live in California.  Is this income that needs to be reported to the IRS

 

    1 reply

    D
    DianeW777
    January 30, 2023

    It depends.  In most cases the income must be reported to your state however some may be tax exempt for your state.

     

    Your actual 1099-DIV provides the required information about United States interest and dividends, but does not have a field for state obligations.  That would appear in the Tax Details contained in the UTI Supplemental information.  

     

    Typically you will see the percentage of the dividends that would be municipal or state bonds for your state.  This amount would not be taxable to your state. 

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