Municipal Bond

Report a municipal bond and income produced by the bond in Schedule A.

Municipal Bond: Examples

For You, Your Spouse, and Your Dependent Children

Schedule A

Report a bond if the value of the bond was more than $1,000 at the end of the reporting period, or if the bond produced more than $200 in income during the reporting period.

Block A: Provide the name of the issuing government authority and the type of bond.

The two primary types of municipal bonds are general obligation and revenue. You do not need to include the terms of the bond. However, for a revenue bond, identify the specific revenue project.

Block B: Report the value of the bond by marking the appropriate column.

Block C: Report the total amount of income that was produced during the reporting period by marking the appropriate “Amount” column. If the amount of income is more than $200, you also need to report the type of income by marking the applicable “Type” column(s). Municipal bonds normally produce interest income but may also produce capital gains if sold. Report income even if the bond is eligible for tax-deferred treatment or is tax-exempt.

Click Here for Frequently Asked Questions 

 

This guide is not intended to provide investment advice, and you should not rely on statements in this guide when making investment decisions.