Page 16 - Interest Income - Individuals Handbook
P. 16
Interest Income
/!\ In general, any interest you receive or that is credited to your account and can be withdrawn is
taxable income. Exceptions to this rule are discussed later. You may be able to deduct expenses you
have in earning this income on Schedule A (Form 1040) if you itemize your deductions. See Money
borrowed to invest in certificate of deposit. /!\
