Question

Reporting help with Vanguard 1099-DIV

Forum|Forum|1 year ago
April 13, 2025
1 reply
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I received a 1099-DIV from Vanguard for brokerage account where the only asset I hold is VTI ( Vanguard Total Stock Market Index Fund ETF).

I am trying to report this in TurboTax Desktop Deluxe Version. My 1099-DIV has the following fields which have values.

1a- Total ordinary dividends (includes lines 1b, 5, 2e)

1b- Qualified dividends

5- Section 199A dividends

Then later in details it has:

Security description which has numbers associated with "Qualified dividend" "Section 199A dividend" and "Nonqualified dividend" on various dated.

At end it has

PERCENTAGE OF INCOME FROM US GOVERNMENT SECURITIES

Fed Source Total 0.30%

I file in all these details in TurboTax and then in later question sections I am confused about. It seems like some of these checkbox should be selected?

M

mglauner

Select the first box, then multiply the amount in Box 1 by .30 and enter that amount as US Government Interest.

@frostily0495

J

JohnnyMac16

To clarify, you would multiple the amount in Box 1 by 0.30% (which is 0.003) to get the U.S. Government Interest.

F

frostily0495Author

@ frostily0495

I'm not a tax expert, and I don't know specifically about your fund, but in your original question you said it was a "Total Stock Market Index Fund ETF." By that type of fund's definition it would definitely have less than 50% assets in US government obligations, and you, in fact, said that the fund reports that US Govt figure is only 0.30% . i.e., it only has a very tiny smidge of US Govt obligations--as would be normal in a total stock market fund.

Likewise, a total stock market fund ETF, which is an extremely broadbased fund of stocks, would have no business holding a large number of California (or any other state) obligations, if it has any at all. If it has any state obligations at all, I would guess the percentage for California is extremely low; i.e., a tiny fraction--but it may have none at all. You could ask a Vanguard representative if you really wanted to nail it down. But logically speaking, based on the type of fund ETF, if it were me, I'd assume that the percentage is very tiny, which would allow me to answer:

"yes, the dividends are from funds with less than 50% invested in US Govt and California obligations."

When you indicate that, I would expect that California will then include that $14 as taxable (i.e., won't exclude it) because the fund has less than 50%.

@VolvoGirl Thank you.

@mesquitebean Your logic makes sense to me. Thanks.