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State tax filing
The term "obligation" is somewhat ambiguous. It normally means a bond issued by the state, though it can sometimes mean other types of obligations. Here are two statements from IRS Publication 550.
"Interest on some state or local obligations is taxable." (page 12)
"Interest you receive on tax refunds is taxable income." (page 6)
"Interest on some state or local obligations is taxable." (page 12)
"Interest you receive on tax refunds is taxable income." (page 6)
‎June 4, 2019
3:52 PM
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