In misc.taxes.moderated, Kevin wrote:

- quote -

You mean line 31 of
http://www.nystax.gov/pdf/2007/filli...07_fill_in.pdf I
suspect.

It seems to me some interest on US obligations could have gone on
line 28. "Dividends you received from a regulated investment
company (mutual fund) that invests in obligations of the
U.S. government and meet the 50% asset requirement
each quarter qualify for this subtraction. The portion of such
dividends that may be subtracted is based upon the portion
of taxable income received" is from page 86 of
http://www.nystax.gov/pdf/2007/inc/it150_201i_2007.pdf along with
other info explaining line 28.


See http://www.nystax.gov/pdf/2007/inc/it150_201i_2007.pdf page 87
(S-1) at the bottom of column 2. I wonder what such obligation would
be called a dividend rather than interest.

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in article gpj9s1$ttj$1[at]news.motzarella.org, Kevin at Kevin[at]rocketmail.com
wrote on 3/15/09 1:47 PM:

- quote -

securities. It is not uncommon to receive a list of Mutual funds that shows
what percentage of the dividends comes from there and they are always state
tax exempt.

Uncompensated advice guaranteed correct or double your money back

Frank S. Duke, Jr. CPA
Cincinnati, OH USA

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"Kevin" <Kevin[at]rocketmail.com> wrote
- quote -




Nope. It's mutual funds that invested in US - Federal - securities most
likely.

Treasury securities.



Take a look at last year's brokerage statements and most often the
supporting documents from the broker - you know, the stuff that gets thrown
away - that usually spells out the percentage of investments in different
state's bonds and/or federal investments.






--
Paul Thomas, CPA
Watkinsville, Georgia

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I had an accountant do my 2007 taxes. I am doing my 2008.

He had an entry on my NYS return (line 31, where you subtract things that
were on your Federal return but are not subject to NY tax) labeled "U.S.
Dividend Income". What on earth is that?

Could it possibly be mutual funds that invested in Municipal bonds, so their
dividends are tax free?

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >