Reporting U.S. Treasury Money Fund for CA State Taxes

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UDca2023
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Joined: Thu Jan 26, 2023 3:10 pm

Reporting U.S. Treasury Money Fund for CA State Taxes

Post by UDca2023 »

I have shares of Schwab U.S. Treasury Money Fund (SNSXX) and want to know how to calculate amount to deduct for California state tax purposes.

Schwab funds data page says to multiply just the fund's Non-Qualified Dividends (excluding the fund's 0.04% short-term cap gains) by 100.00% and that is the U.S. Gov't Obligations amount. Is that the figure to use? That's straightforward, but my broker's 1099 detail page notes this fund has a Federal Source Income from U.S. Gov't Securities Total = 99.96%: U.S. Treasury = 99.95%, Federal Home Loan = 0.01% and no other detail.

a) Are broker's 1099 percentages slightly different due to using the combined Non-Qualified Dividend and ST Cap Gain amount instead of just the Non-Qualified Dividends?

b) Is the correct calculation for my CA state tax adjustment = Non-Qualified Dividendsx100.00%, x99.95%, or other? The differences are very small for 2022 reporting but wanted to know the correct method. Thanks.
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