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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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‎February 1, 2020
5:25 AM
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