where do you see "exempt from federal taxation" ?
US govt bond interest is not exempt from Federal taxation.
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if it really says exempt from state taxation.....then
NO...that specifically refers just to US Govt bonds.
IF on a 1099-DIV form, it refers to a sub-part of the box 1a $$ that are showing on the -DIV form.
the "Muni"s you are referring to go into box 11 of a 1099-DIV.
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
