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Mon, Feb 16, 04 at 17:20
| I am doing my son's taxes via the phone. I am not sure how you answer one of the questions. He had $225 in interest from mutual funds. When it asks for interest earned do I put the whole 225- or are you allowed so much that you don't have to put down
thanks |
Follow-Up Postings:
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| Unfortunately, interest is all taxable unless it is from muni bonds or a similar investment. |
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| He should have received a 1099, so just put down what's on it. This mutual fund interest would not be taxable if the money is in a qualified retirement plan. In that case, he would not have received a 1099. |
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