income taxes help


Is interest income included in Pennsylvania taxable income?

I'm filing my tax return and I'm wondering if my interest income is included in taxable income.

Public Comments

  1. Depends on the source - for example, interest from U.S. Treasury bonds is exempt from state tax.
  2. I do income tax returns for family (and sometimes friends) living in states of VIRGINIA, MARYLAND and GEORGIA. For all States, you first calculate and prepare your FEDERAL 1040 RETURN to the IRS, where all INTEREST INCOME would be shown & listed on SCHEDULE B. Then when doing your STATE INCOME TAX like PA they ask questions and often there are DEDUCTIONS you can deduct for US TREASURY BOND interest etc
  3. PA doesn't tax US savings bond interest either, or municipal bond interest from enties within PA. But most interest is taxed at the state level.
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