topic Do I owe taxes on returns of a Money Market which is a not an IRA and a 401k which is not an IRA? in Retirement tax questions

Do I owe taxes on returns of a Money Market which is a not an IRA and a 401k which is not an IRA?

mfr4 — Sat, 22 Jun 2019 17:44:46 GMT

Re: Do I owe taxes on returns of a Money Market which is a not an IRA and a 401k which is not an IRA?

DoninGA — Sat, 22 Jun 2019 17:55:10 GMT

If the Money Market Fund is not within a tax deferred retirement plan, such as an IRA or 401(k), and earns interest then that would be reported to you on an IRS Form 1099-INT and the interest earned is entered on your tax return.

Re: Do I owe taxes on returns of a Money Market which is a not an IRA and a 401k which is not an IRA?

Lisa995 — Sat, 22 Jun 2019 18:03:46 GMT

Yes. You should receive a 1099 from the financial institution that holds the money to report on your tax return each year.