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How do I report investment income on my taxes?

Curious about Taxes Investment

How do I report investment income on my taxes?

When you earn investment income, you are required to report it on your taxes. The specific form you will use to report your investment income will depend on the type of income you received.

For interest income earned on savings accounts, CDs, and bonds, you will receive a Form 1099INT. This form reports the amount of interest you earned during the year and should be included on your tax return.

For dividend income earned from stocks and mutual funds, you will receive a Form 1099DIV. This form reports the amount of dividends you earned during the year and should be included on your tax return.

For capital gains and losses from the sale of investments, you will need to report them on Schedule D of your tax return. You will need to report both shortterm and longterm gains and losses separately.

It's important to note that investment income is generally taxed at a different rate than ordinary income, so be sure to consult a tax professional or use tax preparation software to ensure that you are reporting your investment income correctly.

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