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Question

resourceman99

Asked

specified private activity bond interest

I have a 1099-INT that lists an additional line of income as "specified private activity bond interest." Where do I need to include that on my taxes ?

(Asked 02/06/08, Views 323)

Question has been solved by jerry2000

Answers (1)

jerry2000

SuperUser

This pertains to tax exempt interest. When you are entering the tax exempt interest, one of the screens will ask for interest subject to AMT. That is where you enter the amount listed for private activity bond. This usually is associated with municipal bond dividends/interest. The interest is exempt from regular income tax but not from the Alternative Minimum Tax.

(Posted 02/06/08)

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