PSA and question about Fido money market funds

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feh
Posts: 2001
Joined: Sat Dec 15, 2012 10:39 am

PSA and question about Fido money market funds

Post by feh »

First the PSA - given how low interest rates have been over the last many years, I never bought individual treasuries or used money market funds based on treasuries. This year and last were the first time I needed to tell Turbotax that "I have some interest/dividends that should not be taxed by my state of residence." So - make sure you take advantage of that situation!

Now the question - individual treasuries and I Bond interest is pretty easy to identify/track, but my primary MM fund at Fidelity is FZFXX, of which a portion is not taxable by my state. I was hoping there would be a concise source of what that percentage is, but I couldn't find one. Looking at https://fundresearch.fidelity.com/mutua ... /316341304 it appears 45% is not taxable by the state, but I'm not positive.

Do we need to add multiple US treasury obligation ourselves? Thanks.
kaseg
Posts: 51
Joined: Sat Feb 21, 2015 11:18 pm

Re: PSA and question about Fido money market funds

Post by kaseg »

If you have funds that hold government securities, you'll need the "U.S. government securities income" info from here: https://www.fidelity.com/tax-informatio ... nformation

Its not available for 2023 yet.

If you hold treasuries directly, it should be reported as interest from treasuries on your 1099.
peteyboy
Posts: 397
Joined: Tue Feb 07, 2023 2:26 pm

Re: PSA and question about Fido money market funds

Post by peteyboy »

You may want to consider Fidelity MM fund FDLXX.
Topic Author
feh
Posts: 2001
Joined: Sat Dec 15, 2012 10:39 am

Re: PSA and question about Fido money market funds

Post by feh »

kaseg wrote: Sun Feb 11, 2024 10:24 am If you have funds that hold government securities, you'll need the "U.S. government securities income" info from here: https://www.fidelity.com/tax-informatio ... nformation

Its not available for 2023 yet.

If you hold treasuries directly, it should be reported as interest from treasuries on your 1099.
Do you know when Fido usually has that info available?
Geologist
Posts: 2902
Joined: Fri Jan 02, 2009 6:35 pm

Re: PSA and question about Fido money market funds

Post by Geologist »

feh wrote: Sun Feb 11, 2024 11:59 am
kaseg wrote: Sun Feb 11, 2024 10:24 am If you have funds that hold government securities, you'll need the "U.S. government securities income" info from here: https://www.fidelity.com/tax-informatio ... nformation

Its not available for 2023 yet.

If you hold treasuries directly, it should be reported as interest from treasuries on your 1099.
Do you know when Fido usually has that info available?
If you click on the link provided, it says "expected early February".
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