Fidelity money market - government obligations for 2024

[mrfeh]

Looking at this PDF (https://institutional.fidelity.com/app/proxy/content?literatureURL=/842885.PDF), I get the following percentages for federal government obligations for these funds:

FDLXX 99.63%
FZFXX 50.56%
SPAXX 54.63%

Anybody want to check my work?

 

[sengsational]

I pulled up last year's PDF and it said to just wait for your year end tax document, and use the value found there. I got mine in the mail today, but I didn't see any value that represented government obligations % or $ from government obligations.

 

[mrfeh]

I pulled up last year's PDF and it said to just wait for your year end tax document, and use the value found there. I got mine in the mail today, but I didn't see any value that represented government obligations % or $ from government obligations.

Yeah, that info is definitely not on my 1099. Would be nice if it was.

 

[joesxm3]

While scanning in my tax records from the past 40 years I came across what seemed to be duplicate Fidelity tax statements. One was printed on both sides and came in the mail. The other was only printed on one side and I think I must have downloaded and printed.

The one printed on one side only had "supplemental" information. I have not verified it but I suspect the online copy of your consolidated forms may have more information than the ones they mail to you.

 

[pb4uski]

What I did was to google the fund number for each of those tickers and then look up the fund number on the link that you provided.

 

[SecretlyFI]

All the way at the bottom of my FIDO 1099 is this sentence:

When I go to "Fidelity.com/fundtaxinfo", I see this:

So it looks like they should be putting it there soon, but it's not included in the 1099 itself.

 

[MBSC]

What I did was to google the fund number for each of those tickers and then look up the fund number on the link that you provided.
View attachment 54323
View attachment 54324
View attachment 54325

The Fidelity fund numbers can also be found here.

Fidelity Money Market Pricing & Performance | Fidelity Institutional

Browse our money market fund&#xD&#xAlineup.

institutional.fidelity.com

The online version of my Fidelity tax documents include total dividends for each MMF. I just noticed the mailed version received 2/5/25 does not have these supplemental pages.

 

[mrfeh]

The Fidelity fund numbers can also be found here.

Fidelity Money Market Pricing & Performance | Fidelity Institutional

Browse our money market fund&#xD&#xAlineup.

institutional.fidelity.com

The online version of my Fidelity tax documents include total dividends for each MMF. I just noticed the mailed version received 2/5/25 does not have these supplemental pages.

Yes, but it does not include the percentage of dividends due to gov obligations.

That info needs to be found from other sources.

 

[mrfeh]

What I did was to google the fund number for each of those tickers and then look up the fund number on the link that you provided.
View attachment 54323
View attachment 54324
View attachment 54325

Yup, I think you're right.

FYI for other folks - the fund number is included in the 1099, so instead of searching the PDF by fund name, you can search it by the fund number which will point to exactly one entry.

ETA - the year 2024 is on the PDF in the original post, so this information appears to be ready.

 

[audreyh1]

The Fidelity fund numbers can also be found here.

Fidelity Money Market Pricing & Performance | Fidelity Institutional

Browse our money market fund&#xD&#xAlineup.

institutional.fidelity.com

The online version of my Fidelity tax documents include total dividends for each MMF. I just noticed the mailed version received 2/5/25 does not have these supplemental pages.

That’s so interesting.

I do not receive Fidelity tax documents by mail. I turned that off as soon as I could after having some go missing in the mail - delivered but never got to me. I consider that a security problem. So far only a handful of companies insist on also sending 1099-INTs by mail. Those are smaller amounts.

 

[JoeWras]

Following this.

 

[DJRR]

Looking at this PDF (https://institutional.fidelity.com/app/proxy/content?literatureURL=/842885.PDF), I get the following percentages for federal government obligations for these funds:

FDLXX 99.63%
FZFXX 50.56%
SPAXX 54.63%

Anybody want to check my work?

Thank you, been waiting for this to file my State taxes. VA can't put me in jail if I have an official document to base it off of. It can change/update later or I can miscalculate, but that is not fraud

 

[imjustawarrior]

All the way at the bottom of my FIDO 1099 is this sentence:
View attachment 54326

When I go to "Fidelity.com/fundtaxinfo", I see this:

View attachment 54327

So it looks like they should be putting it there soon, but it's not included in the 1099 itself.

This is what I see. mid Feb

If the institutional data from the OP is correct for individuals, then why doesn't Fidelity give us the information? This is the last data I need to file my taxes.

 

[mrfeh]

This is what I see. mid Feb

If the institutional data from the OP is correct for individuals, then why doesn't Fidelity give us the information? This is the last data I need to file my taxes.

The fund numbers in my 1099 match the CUSIP numbers in the document in the OP. I think that is the data you're looking for.

 

[Flieger]

Looking at this PDF (https://institutional.fidelity.com/app/proxy/content?literatureURL=/842885.PDF), I get the following percentages for federal government obligations for these funds:

FDLXX 99.63%
FZFXX 50.56%
SPAXX 54.63%

Anybody want to check my work?

Not trying to be smart, but what do we do with this information?

Flieger

 

[DJRR]

Not trying to be smart, but what do we do with this information?

Flieger

If your State has income taxes, and you earned Federal Treasury interest it is excluded from State income. My core account is SPAXX, so 55% of the interest earned is State tax exempt. You have to do the calculation yourself and enter into your tax program.

 

[imjustawarrior]

Not trying to be smart, but what do we do with this information?

Flieger

It can reduce your state income tax.

The % from federal sources is not taxable at the state level. There are a few states that require a fund to be above a certain percent for it to be state tax exempt.

 

[jim584672]

I see the CUSIP for the Fidelity Government Money Market Fund (SPAXX) is 31617H102. 55.0877%.

 

[imjustawarrior]

The fund numbers in my 1099 match the CUSIP numbers in the document in the OP. I think that is the data you're looking for.

I agree. I searched the document with the CUSIPs from my 1099. They are all there.

I just don't understand why Fidelity doesn't give me the information when they have it. Vanguard gave me the info on my 1099 in Jan.

 

[Flieger]

If your State has income taxes, and you earned Federal Treasury interest it is excluded from State income. My core account is SPAXX, so 55% of the interest earned is State tax exempt. You have to do the calculation yourself and enter into your tax program.

It can reduce your state income tax.

The % from federal sources is not taxable at the state level. There are a few states that require a fund to be above a certain percent for it to be state tax exempt.

Great info! Thanks!

Flieger

 

[marko]

It can reduce your state income tax.

The % from federal sources is not taxable at the state level. There are a few states that require a fund to be above a certain percent for it to be state tax exempt.

But it sounds like it's not on the 1099. If relevant, where would you enter that information?. Doesn't sound like TT would pick it up.

 

[imjustawarrior]

But it sounds like it's not on the 1099. If relevant, where would you enter that information?. Doesn't sound like TT would pick it up.

It reduces the state income tax. TT does support this. One has to manually calculate the amount that is state exempt and enter it into TT. Kind of similar to the foreign tax credit.

 

[DJRR]

But it sounds like it's not on the 1099. If relevant, where would you enter that information?. Doesn't sound like TT would pick it up.

Took me a hot minute to figure it out, but you go back and edit your 1099. Then the next screen has a check box that some of this interest was State tax exempt. Then it gave me a box to enter the amount and I just entered the amount I calculated and watched my State refund increase.

 

[target2019]

But it sounds like it's not on the 1099. If relevant, where would you enter that information?. Doesn't sound like TT would pick it up.

There's a section in desktop TurboTax that's part of Box 12.

 

[mrfeh]

And as pb4uski pointed out, a couple of the numbers in my OP were incorrect. The correct numbers are:

FDLXX 97.00%
FZFXX 50.56%
SPAXX 55.09%

If you held other funds a Fidelity, just search the Fido document for the fund number in your 1099.