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Get your taxes done using TurboTax
A brokerage bonus or promotion is typically treated the same way as interest earned in the account. If the account is a regular taxable account, the bonus will be taxable. I expect at the year-end 1099-INT will include this bonus. If it does not you should post it as interest.
You can enter your 1099-INT manually.
Go to Wages & Income
Work on other income
Investments and Savings
Interest on 1099-INT
Add Investments Or select 1099-INT
Relax. We got it. = Continue
Let's import your tax info = Enter a different way
OK, let's start with one investment type = Interest = Continue
Type it myself
Enter your new information.
If the account is a traditional IRA, there won’t be a 1099 and therefore it won’t be taxable in the current year. But because the bonus stays in the IRA and it grows tax-deferred, eventually when you withdraw the money after you retire, the money will be taxable at that time.
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