New (tax) year, new help!

Fixed Assets and UltraTax CS 2023 help is now on Help and Support. We're still moving articles, but you can find most content for the 2023 tax year there. Continue using the Help & How-To Center for tax years 2022 and older.

Question

How do I enter income from a state, local, or municipal bond that is tax-exempt at the federal level, but taxable at the state level?

Answer

In the statement dialog for the Interest income field or the Dividends field on Screen Income, K1, or K1T, enter the tax-exempt amount, including income attributable to private activity bonds issued after August 7, 1986 in the Tax-Exempt Amount field only. On the same line as the amount entry, enter the portion that is nontaxable to the integrated state in the InState Muni ($ or %) field.

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