Taxes

Forum|Forum|2 years ago
April 5, 2024
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I still would like to know how to determine what percentage of capital gains reported by a mutual fund is from US obligations. Vanguard and Columbia could not answer that question. They give you information about the percentage of ordinary dividends that is from US obligations. The information is needed to complete my MD state taxes.

Hal_Al

Employee

Q. I still would like to know how to determine what percentage of capital gains reported by a mutual fund is from US obligations?

A. Vanguard and Columbia gives you information about the percentage of ordinary dividends that is from US obligations. That is your answer.

If you have a 1099-DIV, from a mutual fund, and a portion of the dividends are from U.S. securities; after entering your 1099-DIV, you will reach a screen: "Tell us if any of these uncommon situations apply to you". Check the box "A portion of these dividends is U.S. Government interest".

You have to manually calculate the amount, to enter, by multiplying box 1a times the percentage you got from Vanguard and Columbia.

Drew100Author

Thank you for the information. One follow-up question that maybe you can help with.

Your answer addresses ordinary dividends but how do I determine what percentage of capital gains is from US obligations? The mutual companies I contacted were not able to answer this question.