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The Account Detail for Tax-Exempt Income page provides an itemized list of the tax-exempt interest and exempt interest dividend payments you received, as well as the amount of specified private activity bond interest you received for the selected tax year.
This section lists federal tax-exempt interest and exempt interest dividends you received, by security. It also lists any portion of those payments that is classified as specified private activity bond interest. The securities are listed in order of their CUSIP number, and the tax-exempt payments are listed by payment date, in chronological order.
The total amount of tax-exempt income is reported on IRS Form 1099-INT (part of your Tax Reporting Statement). The portion (if any) of that total amount constituting specified private activity bond interest is also reported on the same tax form. Each interest payment you received is listed in the Supplemental Information section of your Tax Reporting Statement.
Although tax-exempt income is generally not taxable at under the regular federal income tax, please keep in mind that a portion of this income may be subject to state and local taxes and/or the federal alternative minimum tax. Fidelity does not report this information to the IRS, but may be required to report the information to California or other state tax authorities.
The Detail Info for Tax-Exempt Income section displays a maximum of 180 individual payments. If you received more than 180 payments of tax-exempt income during the selected tax year, only the first 180 payments will be displayed. However, the total of all payments of tax-exempt income received, including those not displayed on this page, is displayed in the relevant field on the Tax Information page.
The tax information reported on this page may not reflect all adjustments necessary for tax reporting purposes, and therefore may not be appropriate to use when preparing a tax return. You should use the official tax forms that Fidelity sends by mail for purposes of tax return preparation.
Specified Private Activity Bond Interest is interest paid by private activity bonds, issued to encourage private-sector investment in the development of certain facilities which serve various specified public purposes, and exempt interest dividends paid by mutual funds that are attributable to such interest. Specified private activity bond interest is reported on IRS Form 1099-INT in your Tax Reporting Statement. The tax-exempt income reported by Fidelity includes amounts that are treated as specified private activity bond interest, if applicable. Specified private activity bond interest must be taken into account in computing the federal alternative minimum tax.
Yes. Current-year specified private activity bond interest for mutual funds is not known until after December 31. Therefore, the amount displayed for the current year is an estimation that is based on data from the prior year. Unlike mutual funds, specified private activity bond interest for individual bonds is known for the current year. Therefore, for individual bonds, the actual amount of specified private activity bond interest is displayed.