I'm doing my 2022 taxes and, like many on here, took advantage of government-based instruments like T-Bills, ETFs, and Money Market Funds at a non-insignificant level last year (for the first time, in my case).
Based on this: https://www.reddit.com/r/investing/comments/10vtkvt/government_bond_etf_taxes_on_distributions/
I'm understanding that with something like SGOV, you need to multiply your 1099-DIV Box1a Dividends/Interest (basically, anything that passively came to you, vs if you sold "shares" and thus generated Capital Gains) by a percentage as published by BlackRock (see link in other post) when you enter it in you taxes (Turbo Tax for me, so it'll flow through to my California return).
Really?? So the 1099-DIV that Fidelity prepares me doesn't already break that stuff out??
I'm asking because I also have FDRXX Government Cash Reserves which has some treasury items as well, the largest of which is US Gov Repurchase Agreements, but has about 5% in US Treasury Coupons.
And of course this got me thinking about any other ETFs/MMF that might earn interest from US Government obligations.
Can anyone shed light on this? And specifically, where to go find the percentages to apply to Fidelity funds? Bonus for Schwab's info since I'll need that for 2023.
This is such a bummer that it's not broken out for you because it'd be really easy to miss.
Submitted February 22, 2023 at 12:52AM by lljc00 https://ift.tt/r0yFgkC
