TAX EXEMPT INTEREST -1040

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  • January 29, 2016 at 10:16 am #199770
    shmogma
    Participant

    just curious as to why tax exempt interest is required to be displayed on the 1040 if it’s exempt?

    FAR - 80
    REG - PENDING
    AUD- PENDING
    BUS - PENDING

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  • January 29, 2016 at 5:27 pm #756342
    mhueycpa
    Participant

    I believe it is included when calculating MAGI (Modified AGI) for certain credits and/or deductions.

    THE 300 CLUB WILL DO JUST FINE!

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