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April 1, 2022
Question

If I was rewarded the entire balance of my investment account, is it taxable income?

  • April 1, 2022
  • 1 reply
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I was awarded $20.00 for opening an account and only used that to trade.  would i be taxed on the proceeds?

1 reply

April 1, 2022

Yes. If you received a cash bonus for opening a brokerage account, checking account, savings account, or similar deposit account, that bonus is interest. They should issue a Form 1099-INT at year end and you should include it as taxable income on your income tax return.

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