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posted Jun 1, 2019 8:59:20 AM

Is bank account dividend consider taxable?

is bank account dividend consider taxable?

1 1 1937
1 Replies
Level 15
Jun 1, 2019 8:59:22 AM

Yes, it's taxable income. Although some banks, and especially credit unions, call it a dividend, it's actually interest. If it was $10 or more you should have gotten a Form 1099-INT from the bank. You report it on your tax return as interest income, no matter how much or how little it was, and whether or not you got a 1099-INT.