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posted Jun 6, 2019 6:32:16 AM

Are dividends earned from checking account the taxable?

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Level 1
Jun 6, 2019 6:32:18 AM

Those dividends are usually really interest income. (Credit Union?) They are taxable, but as a practical matter amounts for bank account  interest or dividends less than $10.00 are not usually reported to the account holder by the bank. ( $10 of interest probably would not change a persons taxes very much.) 

However if more-better report them.  They go in other income.

1 Replies
Level 1
Jun 6, 2019 6:32:18 AM

Those dividends are usually really interest income. (Credit Union?) They are taxable, but as a practical matter amounts for bank account  interest or dividends less than $10.00 are not usually reported to the account holder by the bank. ( $10 of interest probably would not change a persons taxes very much.) 

However if more-better report them.  They go in other income.