Fund Tax Pro
TMNS California (CA) exempt-interest percentage, tax year 2025
T. Rowe Price Short Municipal Income ETF is a national fund that reports income across 34 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 Tax Information for Tax-Free Funds (saved web page) Page 10. By-state table: ETFs |
| Federal AMT percentage, 2025 | ••.••% | 2025 Tax Information for Tax-Free Funds (saved web page) Page 10 |
Working out TMNS state deductibility in California
Preparers looking up TMNS 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 TMNS's tax year 2025 percentage for California, the calculation, the document title (2025 Tax Information for Tax-Free Funds (saved web page)) and page 10. Subscribers can also download T. Rowe Price's document itself.