SunTaxMan Posted April 24, 2013 Report Share Posted April 24, 2013 PA resident. sold MD Tax Free Bonds. I am thinking the gain on disposition would be exempt to MD resident, but taxable to PA resident. Correct? Thanks, Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted April 24, 2013 Report Share Posted April 24, 2013 TR, I think that it is only the INCOME earned by the bond that is tax exempt, not the value of the bond itself. When selling the bond, normal basis and gain/loss rules would apply to the sale. Quote Link to comment Share on other sites More sharing options...
SunTaxMan Posted April 24, 2013 Author Report Share Posted April 24, 2013 And I think you are correct. Thanks, Quote Link to comment Share on other sites More sharing options...
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