Could you please tell me how how to obtain the TAXABLE INTEREST (8a) on Income Tax Form 1040 if W-2 wages is $39,528.02. I greatly appreciate your help.

Thank's a lot!

AtlantaTaxExpert

Ale:

You misinterpreted the intent of Line 8a. It has nothing to do with your W-2 income.

Taxable interest is the interest you receive from banks, credit unions, savings and loans, brokerage houses, etc. on money you have deposited with them. You can get this information of the Form 1099-INT that these institutions will send you. If the amount of interest is less than $10, you will not get a Form 1099-INT and you do not have to report it.