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- Re: Philadelphia PA School Tax Form - taxable interest adjustment needed
Philadelphia PA School Tax Form - taxable interest adjustment needed
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STW
Level 1
04-02-2023
12:50 PM
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The taxable interest for Philly school tax excludes interest from (a) banking/money market, (b) direct Fed Gov't obligations, (c) bonds/debt obligations for PA and political subdivisions.
HOWEVER, I see no way to exclude these interest items from total taxable federal/PA interest so it doesn't carry over to the Philly school tax form. Any ideas?
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3 Comments 3
sjrcpa
Level 15
04-02-2023
12:55 PM
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Which of the 3 do you have?
The more I know, the more I don't know.
STW
Level 1
04-02-2023
12:57 PM
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Bank interest
Accountant-Man
Level 13
04-02-2023
01:22 PM
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If none of the interest income is taxable to Philly, just enter zero on the school tax form.
0.
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