Skip to main content
Level 1
Feb 8, 2021 9:58 PM UTC
Question

interest

if i have interest from a merrill lynch account and it is still in account is it taxable

or is it only taxable as a income when i take it out?

    2 replies

    Level 15
    Feb 8, 2021 10:16 PM UTC

    It’s taxable unless held in a retirement account. 

    Level 2
    Feb 11, 2021 3:26 PM UTC

    You should have received a Merrill Lynch 1099 Tax and Year-End Statement for 2020. The 1099-INT box will show interest income that is taxable.