2023 Interest on Direct U.S. Government Securities

In most states, fund dividends from interest on direct U.S. government securities are exempt from state and local taxes. To determine this amount for each of your funds, multiply the "% of dividends from U.S. government securities" (shown below in Column 1) by the amount for that fund in Box 1a of your Form 1099-DIV.

Check the specific requirements for your state. For example, some states only allow exemptions on dividends for those funds holding a minimum percentage, usually 50%, of government securities at the end of each quarter. We indicate in Column 3, below, whether any of your investments meet this requirement.

State Intangible Property Tax

If you pay state intangible property tax on the value of your fund, you may be able to exclude a portion of such value attributable to the fund's investments in U.S. government securities. To determine this amount, multiply the "% of fund held in U.S. government securities on December 31, 2023" (shown below in Column 2) by the total value of your shares at year end. Consult your tax advisor or your state tax office for more information.

Interest on Direct U.S. Government Securities Tables