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Buddah1
New Member

I closed a money market account. Where do I report the amount that I received in turbo tax?

 
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Hal_Al
Level 15

I closed a money market account. Where do I report the amount that I received in turbo tax?

You don't report it anywhere. That is why you did not receive  form 1099-B, for the sale of a security. Money Market Funds do not gain or lose value. When you  take money out (sell your shares), it was the same amount you put in.

Separately, you will receive a form 1099-INT for the interest earned by the account

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Hal_Al
Level 15

I closed a money market account. Where do I report the amount that I received in turbo tax?

You don't report it anywhere. That is why you did not receive  form 1099-B, for the sale of a security. Money Market Funds do not gain or lose value. When you  take money out (sell your shares), it was the same amount you put in.

Separately, you will receive a form 1099-INT for the interest earned by the account

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