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Ngb Form 34 1

Ngb Form 34 1

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all right for this video I want to go through an IRS form 1099 int for the 2023 calendar year and in this scenario we're going to look at a taxpayer that has income reported in box one for regular interest and they also have some tax exempt interest income reported in boxes 8 and N so we'll go through the full 1099 here and we've also got the form 10 form 1040 the federal income tax return for the taxpayer so we'll through the full 1040 see how everything gets reported and this taxpayer here is a resident of Georgia and they're filing a full year resident Georgia form 500 and so we'll see how these interest items impact the state return as well all right so if we go back to the 1099 here let's talk about the boxes that are completed so box one is just your regular taxable interest income so this is interest income on earned on checking accounts savings accounts if you have a brokerage account you might earn some regular interest a

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