Tax-exempt interest is interest income that is not subject to federal income tax.. The most common sources of tax-exempt interest come from municipal bonds or income-producing assets inside of Roth retirement accounts.
To revisit the interest section:
- Login to your account.
- Select Federal from the left menu
- Go to Wages and Income then Income and Expenses.
- Scroll down to Interest and Dividends.
- Select edit next to Interest on 1099-INT.
- Select edit next to the interest that you need to adjust
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