Hello,
My tax home is changing to North Dakota from South Dakota. With now needing to file a state income tax in North Dakota; does it make sense to use VUSXX instead of VMFXX through Vanguard? I'll state what I think I've learned, but please correct any wrong information.
From what I've read, a portion of VUSXX's earnings interest is exempt from state and local taxes. Financial institution's 1099s do not have the breakdown of what to claim. It also sounds like this changes from year to year. How does one determine what to claim, as well as keep up on the change for each year?
My tax home is changing to North Dakota from South Dakota. With now needing to file a state income tax in North Dakota; does it make sense to use VUSXX instead of VMFXX through Vanguard? I'll state what I think I've learned, but please correct any wrong information.
From what I've read, a portion of VUSXX's earnings interest is exempt from state and local taxes. Financial institution's 1099s do not have the breakdown of what to claim. It also sounds like this changes from year to year. How does one determine what to claim, as well as keep up on the change for each year?
Statistics: Posted by FENDERSTRYKER75 — Mon Feb 12, 2024 8:26 pm — Replies 7 — Views 622