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Submit Documents Via Secure Electronic Submission:my.fordham.edu/fasubmitdocs or Fax: (718) 817392120222023 Parent Interest Income Form STUDENT:___ Last Name___ First Named#: A___Your parents reported
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How to fill out 2022-2023 tax exempt interest
How to fill out 2022-2023 tax exempt interest
01
Gather all relevant documents including Form 1099-INT, bank statements, and any other records of tax-exempt interest received throughout the year.
02
Calculate the total amount of tax-exempt interest received for the tax year.
03
Complete the appropriate sections of your tax return form, such as Schedule B for Form 1040, to report the tax-exempt interest.
04
Double-check all calculations and information before submitting your tax return to ensure accuracy.
Who needs 2022-2023 tax exempt interest?
01
Individuals who have received tax-exempt interest income during the 2022-2023 tax year.
02
Taxpayers who want to accurately report their income and deductions to the IRS.
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What is tax exempt interest income?
Tax exempt interest income is income that is not subject to federal income tax.
Who is required to file tax exempt interest income?
Individuals who receive tax exempt interest income of $10 or more during the tax year are required to file.
How to fill out tax exempt interest income?
Taxpayers can report tax exempt interest income on their tax return using Form 1040 or Form 1040A.
What is the purpose of tax exempt interest income?
The purpose of tax exempt interest income is to provide individuals with income that is not subject to federal income tax, encouraging investments in certain areas like municipal bonds.
What information must be reported on tax exempt interest income?
Taxpayers must report the amount of tax exempt interest income received during the tax year, along with the payer's name and address.
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