For SGOV (the iShares 0–3 Month Treasury Bond ETF), your brokerage's 1099-DIV typically reports the full amount of ordinary dividends in Box 1a. It usually does not identify the portion attributable to U.S. Treasury obligations that may be exempt from state income tax. That information comes from iShares (BlackRock), not your broker.
Here's the general process:
- Find the total ordinary dividends (Box 1a) from your 1099-DIV that came from SGOV.
- Download iShares' annual "U.S. Government Source Income Information" document for the applicable tax year.
- Look up SGOV in the table to find the percentage of dividends derived from U.S. government obligations.
- Multiply your SGOV Box 1a dividends by that percentage.
- Enter the resulting amount as the state-tax-exempt portion if your state's tax return or tax software asks for it. Keep in mind that each state has its own rules, and some states have additional requirements (for example, minimum percentages of government obligations).
You can find the document here:
Look for the document titled "2025 U.S. Government Source Income Information" (or the corresponding year you're filing).
For example:
- For 2024, SGOV's dividends were 97.53% attributable to U.S. government obligations.
- For 2025, the published percentage is 95.14%.
If you're using software such as TurboTax or FreeTaxUSA, it will usually ask something like "How much of these dividends came from U.S. government obligations?" That's where you enter the calculated dollar amount (not necessarily the percentage, depending on the software).
If you tell me which tax year you're filing (2024, 2025, etc.) and which state you're filing in, I can explain exactly how that adjustment works for your state's return.
