1099-INT: Interest Income

Information for the 2011 Tax Year

The Tax Increase Prevention and Reconciliation Act (TIPRA) of 2005 requires investment companies and brokers to report tax-exempt dividends and interest to the Internal Revenue Service (IRS) including dividends and interest for alternative minimum tax (AMT) reporting.

The following table will outline how to report 1099-INT information on your federal tax return:

  • Box 8: Tax-Exempt Interest

    Amounts shown in box 8 refer to tax-exempt dividends distributed by Wells Fargo Municipal Income Funds. Please refer to the instructions for Form 1040, line 8b, for reporting tax-exempt income. Reporting your municipal dividends on Form 1040, line 8b, does not make the amount in box 8 taxable.
  • Box 9: Specified Private Activity Bond Interest

    Amounts shown in box 9 represent the portion of tax-exempt dividends in box 8 that originated from "specified private activity bonds," more commonly known as AMT dividends. Please refer to the instructions for Form 6251, Alternative Minimum Tax – Individuals, and consult your tax advisor to determine if this applies to your particular situation.

Any tax or legal information in this website is merely a summary of our understanding and interpretations of some of the current income tax regulations and is not exhaustive. Investors should consult their tax advisor or legal counsel for advice and information concerning their particular situation. Wells Fargo Funds Management, LLC, Wells Fargo Funds Distributor, LLC, nor any of their representatives may give legal or tax advice.

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