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Tax-exempt 1099 Interest amounts not matching
I have municipal bonds from both my state of residence (PA) and other states held in a brokerage account . The interest on PA bonds are excluded in my state taxable income. So I need to enter my tax exemption amounts separately. The problem is my 1099-INT Line 8 amount is higher than the breakdown at the end of my broker reporting form where tax-exempt interest totals are shown, for both out- and in-state. The totals at the end are higher than the Line 8 amount exactly by a reported amount of "tax-exempt non-qualified interest." How do I make the program reconcile the two totals?
March 28, 2025
1:16 PM