Dividends from Mutual Funds
When must I make this addition?
- If at least 95 percent of the dividends came from bonds issued by state or local governments in Minnesota, add back only the portion that came from governments outside of Minnesota.
- If less than 95 percent of the dividends came from state or local governments in Minnesota, you must add back the full amount of the dividends.
To find the percentage of mutual fund dividends that came from Minnesota bonds, see the tax statement you received from your fund.
Note: Each mutual fund stands on its own for this calculation. You cannot group them to alter the percentages.