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Zugz
Returning Member

2018 tax exempt interest question

I can't figure out how the tax exempt interest figures from the Schedule B's Interest Income Smart Worksheet Box 8 ($7634 MX = $5100 CA + $2534 MS) flows to the 1040 line 2a ($7437) -- Mine don't match.

 

Also, I live in CA and the CA Tax Exempt Smart worksheet figure doesn't match ($5058 on the worksheet, $5100 on Schedule B).

 

Is MS tax exempt interest is not taxable on fed taxes but is taxable on CA taxes? But the CA adjustment TT figures for this is $2379 not $2534 -- don't match.

 

Feels like there is another component missing in my calcs and understanding, bond premium or some other?

 

I have OID tax exempt interest of $98 MX and $233 CA too, do these fit in somehow?

 

Thanks, CR

 

 

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