Is interest on private activity bonds taxable?

Interest on a private activity bond is taxable unless the bond is a qualified private activity bond and meets other requirements, some of which apply to governmental bonds as well.

How do I report bond interest on my tax return?

If your total interest isn't more than $1500 for the year, and you're not otherwise required to report interest income on Schedule B, report the savings bond interest with your other interest on the "Interest" line of your tax return. For more information, see the Instructions for Schedule B (Form 1040).

How do tax-exempt private activity bonds work?

Private activity bonds are issued to attract businesses and labor to a region in order to derive a public benefit, which would qualify the bond for tax-exempt status. These bonds pay taxable interest unless specifically exempted by the federal government.

What is a tax-exempt form 8038?

Issuers of tax-exempt private activity bonds use Form 8038 to provide the IRS with the information required by Internal Revenue Code section 149 and to monitor the requirements of Internal Revenue Code sections 141 through 150.

How do you report interest on a specified private activity bond?

Reporting interest and OID. However, you may choose to report the qualified stated interest on Form 1099-INT and the OID on Form 1099-OID. For a specified private activity bond with OID, report the tax-exempt OID in box 11 on Form 1099-OID and the tax-exempt stated interest in boxes 8 and 9 on Form 1099-INT.

Who fills out 8038-G form?

Form 8038-G is used by issuers of tax-exempt governmental bonds to provide the IRS with the information required by section 149(e) and to monitor compliance with the requirements of sections 141 through 150.

Where is specified private activity bond interest dividends reported on 1040?

On Form 1099-INT, specified private activity bond interest is reported in Box 9. In TaxSlayer Pro, to enter it in the tax return (Form 1040) select: Income. Interest or Dividends (Sch B, 8815)

How do you report private activity bond interest?

Reporting interest and OID. However, you may choose to report the qualified stated interest on Form 1099-INT and the OID on Form 1099-OID. For a specified private activity bond with OID, report the tax-exempt OID in box 11 on Form 1099-OID and the tax-exempt stated interest in boxes 8 and 9 on Form 1099-INT.

US Legal Forms
Form Library
More Forms
More Multi-State Forms
Form 8038 (rev. December 2000). Information Return For Tax-exempt Private Activity Bond Issues

Get Form 8038 (rev. December 2000). Information Return For Tax-exempt Private Activity Bond Issues

Q: How do I report bond interest on my tax return?

If your total interest isn&#039;t more than $1500 for the year, and you&#039;re not otherwise required to report interest income on Schedule B, report the savings bond interest with your other interest on the &quot;Interest&quot; line of your tax return. For more information, see the Instructions for Schedule B (Form 1040).

Ode section 149(e)) See separate instructions. Reporting Authority If Amended Return, check here 1 Issuer s name 3 Number and street (or P.O. box if mail is not delivered to street address) 5 City, town, or post office, state, and ZIP code 6 Date of issue 7 Name of issue 8 CUSIP number 9 Name and title of officer or legal representative whom the IRS may call for more information Room/suite 2 Issuer s employer identification number 4 Report number 1 10 Telepho.

How It Works

Open form follow the instructions
Easily sign the form with your finger
Send filled & signed form or save

OMB rating

★ ★ ★ ★ ★

★ ★ ★ ★

★ ★ ★

★ ★

★

4.8Satisfied

34 votes

Getting a legal expert, creating a scheduled appointment and coming to the workplace for a private conference makes doing a Form 8038 (Rev. December 2000). Information Return For Tax-Exempt Private Activity Bond Issues from beginning to end stressful. US Legal Forms helps you to rapidly produce legally binding documents based on pre-created online samples.

Prepare your docs in minutes using our simple step-by-step instructions:

Find the Form 8038 (Rev. December 2000). Information Return For Tax-Exempt Private Activity Bond Issues you require.
Open it up with cloud-based editor and start adjusting.
Fill in the empty fields; involved parties names, addresses and phone numbers etc.
Customize the blanks with smart fillable areas.
Include the day/time and place your e-signature.
Click on Done after twice-examining all the data.
Download the ready-made record to your gadget or print it out as a hard copy.

Rapidly produce a Form 8038 (Rev. December 2000). Information Return For Tax-Exempt Private Activity Bond Issues without having to involve professionals. We already have over 3 million customers taking advantage of our rich collection of legal documents. Join us today and gain access to the #1 library of online templates. Try it out yourself!

Get form

Experience a faster way to fill out and sign forms on the web. Access the most extensive library of templates available.

Get This Form Now!

Use professional pre-built templates to fill in and sign documents online faster. Get access to thousands of forms.

Keywords relevant to Form 8038 (Rev. December 2000). Information Return For Tax-Exempt Private Activity Bond Issues

31A
44A
OMB
44B
11b
11l
nyc
11g
nonhospital
11c
31c
43a
11h
11d
31D

If you believe that this page should be taken down, please follow our DMCA take down processhere.

VeriSign secured

#1 Internet-trusted security seal. Ensures that a website is free of malware attacks.
Accredited Business

Guarantees that a business meets BBB accreditation standards in the US and Canada.
TopTen Reviews

Highest customer reviews on one of the most highly-trusted product review platforms.