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Questions and Answers
How are distributions from taxable money market funds reported on your tax return?
How are distributions from taxable money market funds reported on your tax return?
- Not subject to federal income tax
- As short-term capital gains
- As long-term capital gains
- As ordinary income (correct)
How much tax do you owe on a $100 distribution from a money market fund if you are in the 22% tax bracket?
How much tax do you owe on a $100 distribution from a money market fund if you are in the 22% tax bracket?
- $20
- $24
- $10
- $22 (correct)
What form do you need to complete to report your money market fund distributions on your tax return?
What form do you need to complete to report your money market fund distributions on your tax return?
- Form 1040
- Schedule B of Form 1040 (correct)
- Schedule C of Form 1040
- Form W-2
Who should you consult with if you have any questions about how to report your money market fund distributions on your tax return?
Who should you consult with if you have any questions about how to report your money market fund distributions on your tax return?
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