Why is tax-exempt interest income on form 1040, line 2a added to total income?
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1 Best answer
MichaelL1
Level 15
Jun 4, 2019 3:37:47 PM
Line 2a is not added to Taxable income so it is not being taxed.
It is income only not taxable income, and can make a difference on some other items on the return such as sales tax deduction or taxable amount of social security.
2 Replies
MichaelL1
Level 15
Jun 4, 2019 3:37:47 PM
Line 2a is not added to Taxable income so it is not being taxed.
It is income only not taxable income, and can make a difference on some other items on the return such as sales tax deduction or taxable amount of social security.