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Deductions & credits
Why are you trying to pay any tax?
Is my unclaimed property taxable? Will I need to report it on my tax returns?"Unclaimed property is property that already belongs to you. The State was simply safeguarding it until it could be returned to you. Therefore, unclaimed property is not actually income so it is not taxable. The UPA does however pay interest on the unclaimed property from the time it is received until the time it is returned. If this amount of interest is greater than $10 you will receive and(sic) 1099-INT in January covering this earned interest. For interest tax reporting questions relating to the 1099-INT, please consult a tax professional. "
‎June 6, 2019
9:39 AM