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Retirement tax questions
That is the amount of $$ that came from NC-specific bonds. As such that $33 of Exempt interest income will not be back-added to NC income, and will not be taxed by NC. Neither will the PR $$.
The Mutiple States (More than one state) $$ came from bonds issued by other states. Those $$ are not exempt from NC taxation...and because those $$ were NOT included in the Federal taxable income, these $$ are added back into the NC tax return as additional income that NC will tax.
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
March 2, 2022
10:34 AM