| 释义 |
Nontaxable Income Nontaxable IncomeAll income that is exempt from taxation at the federal level. Coupons from municipal bonds are a common example of nontaxable income, thought they still may be taxed at the state level.nontaxable income Income items specifically exempted from taxation. On federal returns, the interest from most municipal bonds, life insurance proceeds, gifts, and inheritances is generally nontaxable income.Nontaxable IncomeIncome that is by law exempt from tax. |