Your bank account may be a lot healthier than you think. If you receive cash receipts from interest and dividends, they might be taxable income!

In this blog post, we will discuss what is considered taxable income when it comes to interest and dividends. We will also provide some examples of how the IRS defines these terms in their tax code so that you can get an idea of where your money has been coming from or is going to go.

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Cash receipts from interest and dividends are considered taxable income. The IRS defines these terms as cash or property received because of a loan, debt obligation, share in the company’s profits or sale of an asset.

If you have not been receiving any such payments lately it is worth looking into whether there may be some on your account that could have fallen under this definition. You can also call your bank to see if they can help determine how much money has been credited to your account due to interest or dividend payouts.

Without knowing where exactly the money came from, it will be difficult for anyone outside of yourself or the tax authorities who deal with individual cases like yours to tell what is right and wrong when it comes time.


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