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Earned Dividend Tax Question

A

Adonix

Senior member
How much will i get taxed for money earned through my savings account. Is there a pre-set %?

Lets say i earned $8000 last year through my savings account. How much of tax do i have to pay?

Thanks..
 
It depends on your income and filing status.

Ask again in the tax thread stickied to the top of the page with more details.
 
Originally posted by: Adonix
How much will i get taxed for money earned through my savings account. Is there a pre-set %?

Lets say i earned $8000 last year through my savings account. How much of tax do i have to pay?

Thanks..
Click to expand...

I really hope the $8000 number you typed was just a random one b/c if you really earned $8000 in interest then I think you have TOO much money in the savings account when it should be invested in something with higher return.
 
Originally posted by: Schfifty Five
Originally posted by: Adonix
How much will i get taxed for money earned through my savings account. Is there a pre-set %?

Lets say i earned $8000 last year through my savings account. How much of tax do i have to pay?

Thanks..
Click to expand...

I really hope the $8000 number you typed was just a random one b/c if you really earned $8000 in interest then I think you have TOO much money in the savings account when it should be invested in something with higher return.
Click to expand...
@ 3% APY... that is like $250,000.
 
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