Hi all,
Does anyone know if there is software that generates reports for specific in-state tax exempt interest amounts from muni bond holdings?
I custody with Schwab who does not include state breakdowns for muni interest in its 1099 tax supplemental.
In prior years I’ve looked up the state breakdown % from each fund managers website and calculated the in-state muni amounts in excel to provide to provide to accountants. I only do this for a handful of my largest clients where the in state muni interest has a tangible tax impact but this is something I hope to outsource going forward.
I’ve also overheard an accountant mention they don’t refer to advisors who use Schwab because of the bad 1099 format. I’m hoping there is a clean looking report out there I can submit with my clients 1099s that makes up for Schwabs poor format/missing info.
Thanks.