How Is A Sharebuilder Money Market Account Taxed?

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How Is A Sharebuilder Money Market Account Taxed?

Is it taxed as a 1099 dividend only or are there more taxes. I am figuring 30% for taxes, am I wrong? I live in Washington if that changes tax details at all.

2007-09-20 11:41:23 · 1 answers · asked by ElJollyRancher 1 in Business & Finance ➔ Taxes ➔ United States

What is the marginal tax rate?

2007-09-20 15:47:54 · update #1

1 answers

Money market income is taxed as interest even though it is called a dividend. How much depends on your marginal tax rate (10% - 35%).

2007-09-20 12:50:18 · answer #1 · answered by Wayne Z 7 · 0⤊ 0⤋