DavidS127
Expert Alumni

Deductions & credits

It depends on what was reclaimed and how it was reported to you.  Some unclaimed funds will not be taxed, for example, tax-free investments such as municipal bonds, a 401(K), or an IRA.

 

When interest is paid on the amount of your unclaimed property, it will be reported on Form 1099-INT.  In that situation, the 1099-INT is entered as interest income on your tax return.

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