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fashunluvr24 fashunluvr24
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2 years ago
Which one of the following statements concerning the tax treatment of municipal bonds is correct?

▸ The interest income on municipal bonds is subject to federal income tax.

▸ The capital gain realized on the sale of a municipal bond is tax-free income.

▸ Interest income on a municipal bond is usually exempt from state and local income taxes if the bond is issued by the state or locality in which the investor resides.

▸ Municipal bonds receive no special income tax treatment.
Textbook 
Fundamentals of Investing

Fundamentals of Investing


Edition: 14th
Authors:
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elisebarnettelisebarnett
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2 years ago
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This helped my grade so much Perfect
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Smart ... Thanks!
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