Should i recognize a bond premium amortization on tax exempt interest bonds? and if so where?
For the tax treatment of these securities, see Inflation-Indexed Debt Instruments, later. To determine the excludable amount, J and L multiply the interest part of the proceeds ($3,308.00) by a fraction. The numerator (top part) of the fraction is the qualified higher educational expenses paid during the year ($4,000.00). An SSBIC is an eligible corporation [...]