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The intrest/dividends from U.S. Obligations automatically subtracted for my Maryland State filing is wrong. Where did it get this number? It is not in my Federal form

Forum|Forum|1 year ago
March 18, 2025
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TurboTax Online

Best answer by AmyC

1. Interest and dividends from U.S. Obligations are state exempt - for every state. When you enter the information, the program picks it up and subtracts it for you. It could have come from an INT (box 3) or DIV (box 12).

2. They are taxable on the federal. MD obligations would not be taxable on federal or state.

Reference: IRS Pub 550

AmyCAnswer

1. Interest and dividends from U.S. Obligations are state exempt - for every state. When you enter the information, the program picks it up and subtracts it for you. It could have come from an INT (box 3) or DIV (box 12).

2. They are taxable on the federal. MD obligations would not be taxable on federal or state.

Reference: IRS Pub 550

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