The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies


Subject:  Re: Taxable reported at tax exempt on 1099INT Date:  3/1/2014  4:43 PM
Author:  blacktreechaser Number:  120311 of 131788

Thanx much guys, I do appreciate the replies.

The bond desk that my broker went to research info is a big name (I won't write it), so I feel uncomfortable thinking of them being wrong. But the disclosure is written in very plain English that even I can understand, seems like its taxable to me.

So, I'll move the amount up to line one in turbo tax.

I file paper copies, so I'll probably attach a short note saying what I did....not that I'm expecting anyone to ever read it.

On line 10 of 1099-INT, the broker lists the CUSIP number of my tax exempt bonds. I wouldn't want some IRS person auditing my return, researching the bonds, finding a bond there that is no longer tax exempt, and then moving the amount from Line 8 to Line 1 after I already did that.

Thanx again.
Copyright 1996-2021 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us