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Interest from non-Minnesota Government Bonds Held by Mutual Funds

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Question
Interest from non-Minnesota Government Bonds Held by Mutual Funds

Answer

Interest From Municipal Bonds of Another State or its Governmental Units

Of the amount you included (or should have included) on line 2a of federal Form 1040, add the interest you received from municipal bonds issued by:

• A state other than Minnesota

• A local government (such as a county or city) in a state other than Minnesota

Federally Tax-Exempt Dividends from Mutual Funds Investing in Bonds of Another State

If you received federally tax-exempt interest dividends from a mutual fund, you may have to enter an amount on line 2.

To determine the amount, if any, use the following instructions:

• If 95 percent or more of the federally tax-exempt dividends from a mutual fund came from bonds issued by Minnesota, include only the portion of the federally tax-exempt dividend generated by non-Minnesota bonds.

• If less than 95 percent of the federally tax-exempt interest dividends from a mutual fund came from bonds issued by Minnesota, include all of the federally tax-exempt interest dividend from that fund.


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Article Details
Views: 1889 Created on: Jun 15, 2013
Date updated: Dec 11, 2019
Posted in: States, Minnesota

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