31

Marks: 1

Interest received on a refund from an amended return is:

Choose one answer.

a. Tax-exempt interest reported on Form 1040, line 8b.b. Never paid by the IRS.c. Taxable interest that must be claimed on the Form 1040-X.d. Taxable interest that must be claimed in the year it is received.

If your taxable interest income exceeds $1,500, include it on Schedule B (Form 1040), Interest and Ordinary Dividends, and attach it to your tax return. When filing Form 1040-NR, please refer to the Instructions for Form 1040-NR for specific reporting information. The interest on 2019 refunds is taxable, and taxpayers must report it on their 2020 federal income tax return.

Learn more on Form 1040

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31 Marks: 1 Interest received on a refund from an amended return is: Choose one answer. a. Tax-exempt interest reported on Form 1040, line 8b.b. Never paid by the IRS.c. Taxable interest that must be claimed on the Form 1040-X.d. Taxable interest that must be claimed in the year it is received.

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31

Marks: 1

Interest received on a refund from an amended return is:

Choose one answer.

a. Tax-exempt interest reported on Form 1040, line 8b.b. Never paid by the IRS.c. Taxable interest that must be claimed on the Form 1040-X.d. Taxable interest that must be claimed in the year it is received.