Interest income-first bank of Bedford Interest income-general electric bond Inte
ID: 2452421 • Letter: I
Question
Interest income-first bank of Bedford Interest income-general electric bond Interest income-Bedford school district municipal bond Interest income-Johnson rural improvement district bondWhich of these are taxable interest income and which are not taxable interest income?
Interest income-first bank of Bedford Interest income-general electric bond Interest income-Bedford school district municipal bond Interest income-Johnson rural improvement district bond
Which of these are taxable interest income and which are not taxable interest income?
Interest income-general electric bond Interest income-Bedford school district municipal bond Interest income-Johnson rural improvement district bond
Which of these are taxable interest income and which are not taxable interest income?
Explanation / Answer
Interest income-first bank of Bedford - taxable as the interest from fixed deposits are taxable.
Interest income-general electric bond, Interest income-Bedford school district municipal bond, and Interest income-Johnson rural improvement district bond are not taxable as the interest income is earned by investing in the government projects.
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