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February 8, 2021
Question

interest

  • February 8, 2021
  • 2 replies
  • 0 views

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

    Employee
    February 8, 2021

    It’s taxable unless held in a retirement account. 

    February 11, 2021

    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.