If you receive a Form 1099-INT for interest income on deposits that were frozen at the end of 2014, see Frozen deposits under How To Report Interest Income in chapter 1 of Publication 550, for information about reporting this interest income exclusion on your tax return.
What are the most income tax-friendly states for retirees? That would be the seven states â Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming â that donât tax personal income; and the two states â New Hampshire and Tennessee â that collect income tax only on interest and dividend income.
Hawaii was named the Worst State to Make a Living for the sixth year in a row for its high cost of living, 68.6 percent above the national norm, and one of the highest state tax burdens. Delaware dropped out of the top 10 and Minnesota entered the Best States list compared to 2015.