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Is this accurate? If that was the case then interest from savings accounts and CDs wouldn't be taxed at the marginal tax rate as ordinary income is.
by longtermsec 9y ago
Is this accurate? If that was the case then interest from savings accounts and CDs wouldn't be taxed at the marginal tax rate as ordinary income is.
- deleted 9y ago[deleted]
- hsitz 9y agoInterest from saving accounts and CDs is "ordinary income". "Ordinary income" generally is anything that is not classifiable as a "capital gain". "Capital gain" is gain from the sale or exchange of a capital asset. See https://en.wikipedia.org/wiki/Ordinary_income https://en.wikipedia.org/wiki/Ordinary_income