Tax exempt interest paid on bonds issued by states or municipalities that is tax-free for federal income tax purposes. Although you must report this income on your return, it is not taxed. The AMT may affect which interested is considered tax free.
Tax exempt interest paid on bonds issued by states or municipalities that is tax-free for federal income tax purposes. Although you must report this income on your return, it is not taxed. The AMT may affect which interested is considered tax free.