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John_Mactavish's avatar

I am unemployed. Do I pay federal tax on interest rate income i make from investing in treasury notes?

Asked by John_Mactavish (29 points ) April 7th, 2008
Observing members: 0 Composing members: 0

2 Answers

wabarr's avatar

I would check the IRS website….but you probably do have to pay taxes on that income if it exceeds a certain amount.

gailcalled's avatar

Are your treasury bills producing federal tax-free income? And what about state or city? There is a line on your short form that asks for interest-free income. You will have to figure out whether you owe a little tax or not.

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