While I was working on my 2010 taxes I learned how to enter Tax Exempt Interest using TurboTax DeLuxe. I revisited my 2009 federal tax and found that I entered $2552 in Tax Exempt Interest as Tax Exempt Dividends in my 2009 taxes (federal and California.) Is this a serious error worthy of correction? The method for entering and reporting tax exempt interest and dividends has changed over the years. As long as the income was truly tax exempt, was included on line 8b, and not included in the entries on lines 8a, 9a, or 9b of your 1040, then everything is ok. There isn't any difference in the tax treatment between tax-exempt interest and tax-exempt dividends.Ira
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