2013 PA Schedule A/B - Interest Income ... - Portal.state.pa.us-2025

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Single-state municipal bond strategies invest in bonds issued by state and local governments to fund public projects. The income from such bonds is generally free from federal taxes and from state taxes to residents in the issuing state.
Savings bond interest is exempt from state and local income tax. Savings bond interest is subject to federal income tax; however, taxation can be deferred until redemption, final maturity, or other taxable disposition, whichever occurs first.
interest income the income a person receives from certain bank accounts or from lending money to someone else. taxable interest income interest income that is subject to income tax. All interest income is taxable unless specifically excluded.
Interest is not taxable income if received from direct obligations of the Commonwealth of Pennsylvania, its political subdivisions and authorities or the U.S. government. Likewise, interest from Series E, F, G, H, EE and HH bonds and federal treasury bills and notes are not taxable.
All intangible property of a resident decedent, including stocks, bonds, bank accounts, loans receivable, etc., is also taxable regardless of where it is located at the time of the decedents death.
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Exempt-Interest Dividend Funds Any amount designated as capital gain is fully taxable as dividend income for Pennsylvania purposes. Exempt interest dividends from states other than Pennsylvania or other than exempt federal obligations are taxable income for Pennsylvania personal income tax purposes.
If your total PA-taxable interest income (taxpayer, spouse and/or joint) is equal to the amount reported on your federal return and you have no amounts for Lines 2 through 15 (not including subtotal Lines 4 and 10) of PA Schedule A, you must report your income on Line 2 of the PA-40, but you do not have to submit PA

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