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Instructions for Form 1040-EZ

Line 2, Taxable Interest(p11)

Each payer should send you a Form 1099-INT or Form 1099-OID. Report all of your taxable interest income on line 2 even if you did not receive a Form 1099-INT or 1099-OID.
Include taxable interest from banks, savings and loan associations, credit unions, savings bonds, etc. If interest was credited in 2011 on deposits that you could not withdraw because of the bankruptcy or insolvency of the financial institution, you may be able to exclude part or all of that interest from your 2011 income. But you must use Form 1040A or 1040 to do so. See Pub. 550 for details.
For more information on interest received, use TeleTax topic 403 in Section 6, later.
If you cashed U.S. Series EE or I Savings Bonds in 2011 that were issued after 1989 and you paid certain higher education expenses during the year, you may be able to exclude from income part or all of the interest on those bonds. But you must use Form 8815 and Form 1040A or 1040 to do so.
You must use Form 1040A or 1040 if any of the following apply.

Tax-Exempt Interest(p11)

If you received tax-exempt interest, such as from municipal bonds, each payer should send you a Form 1099-INT. Your tax-exempt interest should be included in box 8 of Form 1099-INT. Enter TEI and the amount in the space to the left of line 2. Do not add tax-exempt interest in the total on line 2.