Page 17 - Interest Income - Individuals Handbook

Interest Income

Understanding interest income is required for tax filing.

 How to report
interest income

 When to report on your tax
interest return.
income.
 What interest is taxable
and what interest is

nontaxable.
 Different types of interest Change in tax rates.

income.  Recent legislation modified
the tax rates and brackets
used to figure the tax on
2020 unearned income for
certain children. See the
Instructions for Form 8615
or Pub. 929 for more
information. 15