1040 form line 8b Tax Exempt Interest?

NO line 8b Tax exempt interest income $$ amount and Line 9b Qualified dividends would NOT be included in the amount on the 1040 page 1 line 22 $$$$$$ Just read line 22 Combine the amounts in the far right column for lines 7 through 21 This is your total income Line 21 $$$$$$ amount.

Hope that you can read and understand the above enclosed information and the information that you have in front of you for each line of the 1040 tax form and you can also use the search box at the www.irs.gov for the 1040 and then choose the instructions and then go to page 12 where the line by line instructions will begin for your use.

Hope that you find the above enclosed information useful. 09/14/2011

Not normally.

Do you have any taxable Social Security? Tax exempt interest may increase the percent of Social Security that is taxed.

Are you subject to AMT? If so, any Tax Exempt interest from Private Activity Bonds is added back for AMT purposes.

With taxes, sometimes there are just no easy Yes or No answers.

Follow the form. If you have any social security benefits, interest on 8b can affect the amount that is taxable, which in turn would affect the total for line 22.

tax exempt means exactly that, but it is included in totaling gross income for other conditions but not in line # 22

It actually has an result on the completed tax. Non-taxable income can actually confirm the share of different income it is taxed (ie. social protection) and can decrease tax credit (ie. Earned income Tax credit).

No. The reason it has to be listed on 8b is that it could affect the AMT.