REG question

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March 16, 2012 at 12:32 am #168335

Anonymous
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I am having confused in FORM 1040 Individual Taxation,

Do we include Tax Exempt Interest in Form 1040 and then subtact afterwards OR We dont include TAX EXEMPT INTEREST?

I am confused ,please help me..

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March 16, 2012 at 1:17 am #331861

Minimorty
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https://www.irs.gov/pub/irs-pdf/f1040.pdf

I am pretty sure the exam is not that specific, but to answer your question: taxable interest on line 8am and tax-exempt interest on line 8b.

March 16, 2012 at 2:54 am #331862

Anonymous
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@Minimorty

Thanks
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