Fund Tax Pro
MSTAX California (CA) exempt-interest percentage, tax year 2025
NYLI MacKay Short Term Muni Fund is a national fund that reports income across 45 jurisdictions, so only part of its Box 12 amount relates to any one state.
| Item | Published figure | Fund company source |
|---|---|---|
| California share of exempt-interest dividends, 2025 | ••.••% | 2025 NYLI Funds Income Tax Information Notice Page 4. Percentage of each Fund's dividend earned from securities of each state or jurisdiction |
| Federal AMT percentage, 2025 | ••.••% | 2025 NYLI Funds Income Tax Information Notice Page 1 |
Working out MSTAX state deductibility in California
Preparers looking up MSTAX for a California return usually start with the fund's California percentage. Multiply it by the exempt-interest dividends in Box 12 of Form 1099-DIV to get the California portion. Fund Tax Pro supplies the published percentage, the calculation and the source; the preparer decides how it is treated on the return.
Backup for the client file
The backup PDF records MSTAX's tax year 2025 percentage for California, the calculation, the document title (2025 NYLI Funds Income Tax Information Notice) and page 4. Subscribers can also download New York Life Investments' document itself.