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Unearned income includes income from interest, dividends, and other corporate distributions. Money, not a person, earns the income.
This topic discusses taxable and tax-exempt interest. It will help you determine taxable interest income from savings accounts, U.S. savings bonds, deferred interest accounts and certificates (such as money market accounts and certificates of deposit), insurance proceeds, and Coverdell Educational Savings Accounts (ESAs).
Upon completing this topic, you will be able to determine and report taxable interest income.
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