State-exempt dividends, arrrgh!

I can't believe the pain involved in claiming state tax exemptions for
dividends of federal origin! If you hold mutual funds thru a broker
you probably get few if any notices for this info, and you'd be
surprised which funds have these with even stock funds having dipped
into federal bonds for defensive reasons recently.
Here is what I do... if there some high school student who wants an
idea to start a dot-com, please automate the following for a few
hundred most popular funds. First find a fund family web site and
flounder around for an hour or so. They won't have exemption info
anywhere in the dividend area or your fund area. Finally you may find
some pdf in an odd place in a goofy, annoying format without ticker
names or anything. Note how you have to do work to relate the info to
your state.
Then I seem to have trouble getting the info into tax software, where
they don't seem to welcome it, and won't properly confirm whether it
has been accepted in the 2 ways I tried to enter. Dear H.S. student,
please also negotiate a portal from your site to tax software site...
Reply to
Your broker knows precisely the dates that dividends were received, and could know, if they gave a damn, precisely the state-exempt percentages and thus amounts on those dates. These could be sitting there in plain view on your 1099-DIV or combined document, and your tax software could, if they gave a damn, pull them in from the broker.
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Richard Roland

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