broker statements

[oceanlovin'ea]

On a brokers statement under the section that lists interest income from different sources, box 8 is tax exempt interest and box 9 is specified private activity bond interest.

Is box 9 included in box 8? Or is box 9 a separate entry on the form?

I guess I am just second guessing myself tonight.

Thanks

Linda

[Koss]

Interest

The amount in Box 9 is included in the amount in Box 8.

Box 8 gets reported on line 8b of Form 1040. But I'm sure you knew that already.

The amount in Box 9 is relevant only for AMT calculations. It may need to be entered somewhere on Form 6251.

BMK

[ChEAr$]

On a brokers statement under the section that lists interest income from different sources, box 8 is tax exempt interest and box 9 is specified private activity bond interest.

Is box 9 included in box 8? Or is box 9 a separate entry on the form?

I guess I am just second guessing myself tonight.

Thanks

Linda

Usually I make a great show when opening up the envelope of taking the instructions which come with it, glancing at it with disdain and while throwing it in the trash say something like "Instructions? I don't need no stinkin' instructions!"
(paraphrase from "Treasure of Sierra madre).

But don't know about that private activity interest. Might actually look at the instructions next time round. My guess would be that if that item is taxable, it will be included on line 1.

[oceanlovin'ea]

tax exempt

when you enter the tax exempt interest there is another entry that asks if any of this is private activity. If you answer yes, it allows you to enter the amount.

I guess I was just making sure i was doing this right at this hour of the night.

Thanks

Linda

[DonPriebe]

...
The amount in Box 9 is relevant only for AMT calculations. It may need to be entered somewhere on Form 6251. ...

Form 6251 Line 13 this year.