Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Returning Member
posted Mar 9, 2024 5:27:58 AM

Municipal Bond Tax Exempt Interest Income

Is South Carolina Municipal Bond Tax Exempt Interest Income "exempt" from South Carolina income tax if that is my state of residence?  I entered all the state specific information, but did not see any adjustments to the SC tax forms.

0 1 378
1 Replies
Level 15
Mar 9, 2024 6:18:52 AM

Yes, it should be SC exempt.

 

But if the SC state amount ended up being a small $$ amount, the change may not have been enough to affect the actual SC tax assessed.

_________________________

And a side note, in case you are overworking, you only break out the SC $$ and any US territories (like Puerto Rico, Guam etc)....the remainder is lumped together a "More than one state"  (or Multiple States if you are using Online software).

 

Example for an NC resident: