I earned interest on government bonds. How should I report this?

 
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Posted On : 26th Nov 2010

I earned interest on government bonds. How should I report this?

If the interest is earned on a state bond, and you live in that state, no tax is payable but you still need to report the amount of interest you earned. If you do not live in the state where the bond was issued you will have to pay state taxes.

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