ING account tax question.

[Jgtdragon]

I opened my ING account not too long ago so I got a question. Does ING send you anything to file for tax? Since we are getting interest, we have to file it as profit right?

 

[minendo]

They will send you the info you need to file.

 

[aphex]

Originally posted by: Jgtdragon
I opened my ING account not too long ago so I got a question. Does ING send you anything to file for tax? Since we are getting interest, we have to file it as profit right?

Yes, they send you tax forms at the appropriate time. 🙂

 

[DaveSimmons]

You'll get a 1099-INT at the end of each year, mailed by January 31 (of the next year, of course). FYI a copy also goes to the IRS too, so you'll need to add it to the interest line of your 1040/1040A.