What is "Other Periodic Interest" in box 2 of Form 1099-OID?

Interest on Obligations of Other States. Federal law generally exempts interest on state and local government bonds and securities from income tax. Since ... It is a form of income that is not taxed. Homeowners may deduct both mortgage interest and property tax payments as well as certain other expenses from their ... Apr 9, 2024 ... When penalty applies · Don't file a tax return on time (5%/month to a maximum of 25%). · File a return on or after the original due date and pay ... Dec 5, 2024 ... This article discusses how to enter Iowa taxable interest. Jul 31, 2014 ... The deferred tax liability on the installment note obligation is $10 million ($50 million × 20%), assuming the transaction is taxed using the ... Is savings bond interest taxable? The interest that your savings bonds earn is subject to. federal income tax, but not state or local income tax; any federal ... ... tax, interest, and penalty charges on those sales. If you are engaged in some other non-taxable business, occupation, or profession, you must keep records ... Form 1099-INT is sent to the taxpayer to show interest income earned during the tax year. Different types of interest received may include savings bond ... Nov 8, 2024 ... Examples of taxable interest · Interest on bank accounts, money market accounts, certificates of deposit, corporate bonds and deposited insurance ... SUBJECT: Interest Exempt from South Carolina Income Tax. TAX ANALYST: Jean P. Croft. EFFECTIVE DATE: All periods open under statute. SUPERSEDES: S.C. ...