Turbotax says some interest subject to federal tax is exempt from Maryland tax but doesn't say what types. Does anyone know?

Forum|Forum|2 years ago
March 14, 2024
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In the 1099-INT section, there is a section for 6 states that don't tax all the interest, including MD. But Turbotax gives no indication of what taxes are exempt in MD!! Anyone know how to find out?

TurboTax Deluxe Online

DawnC

Employee

Any flow through of interest on obligations and securities of the State of Maryland and its political subdivisions is not taxable and, therefore, does not have to be added to federal adjusted gross income on the Maryland return. MD admin release TurboTax will handle these adjustments automatically.

Interest attributable to an obligation of the United States or an instrumentality of the United States, including such interest received from mutual funds, is subtracted from federal taxable income in computing Maryland modified income. (Sec. 10-307, Tax General Art. )

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