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Tax-exempt interest from a mutual fund produces exempt-interest dividends when paid to the stock-holder. These dividends aren't taxable, so you should report them on your return if you're required to file.
Dividends that are exempt from interest might be subject to Alternative Minimum Tax (AMT). Your mutual-fund company should report this on the tax statement it sends you. If it isn't reported, contact the mutual fund administrator to find out if the amount is subject to AMT.