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exempt income

Income from certain types of investments such as municipal bonds, social security benefits, and death benefits that are not subject to federal, state, or local taxation. However, interest on funds borrowed to purchase tax-exempt municipal bonds is not deductible. Academic scholarships, gifts less the $10,000, and certain Roth IRA distributions are also considered exempt income.

Related information about exempt income:
  1. Exempt Income Definition | Investopedia
    Examples of exempt income include municipal bond income, which may also be exempt from state income taxes, a portion of retirement benefits, qualified Roth ...
     
  2. What is Tax-Exempt Income?
    Tax-exempt income is money a person earns that he or she does not have to pay taxes on. Common types of tax-exempt income include...
     
  3. WhatisTaxed.com - Legal Definitions - Exempt Income defined ...
    Taxable income; Gross income; Exempt income; Class of gross income ... The most basic of legal definitions includes “exempt income”, but even tax experts ...
     
  4. Exempt Income: Definition from Answers.com
    Income not subject to tax. Examples are interest on certain municipal bonds, employee achievement awards (length of service or safety achievement) up to.
     
  5. Tax-Exempt Income Types and Your Tax Return
    There are several types of income that are not taxed by the IRS. However, you need to be careful when the determining what is taxable and what isn't. This page ...
     
  6. PTEIX Putnam NY Tax Exempt Income A Fund PTEIX Quote Price ...
    Today's real-time PTEIX fund quote Putnam NY Tax Exempt Income A ticker symbol PTEIX price, snapshot, NAV, ratings, historical returns, news, risk measures, ...
     
  7. PCTEX Putnam CA Tax Exempt Income A Fund PCTEX Quote Price ...
    Today's real-time PCTEX fund quote Putnam CA Tax Exempt Income A ticker symbol PCTEX price, snapshot, NAV, ratings, historical returns, news, risk ...
     
  8. PTAEX Putnam Tax Exempt Income A Fund PTAEX Quote Price News
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