Deposited in accounts in banks, savings and loans, and credit unions, or
Used to buy certificates of deposit or bonds, or
Lent to another person or business
Some savings and loans, credit unions, and banks call their distributions "dividends." These "dividends" are really interest and are reported as interest.
True dividends are different, and are discussed in a different topic.
Question: Are earnings from money market accounts considered interest?
Answer: No. Generally, amounts received from money market funds should be reported as dividends, not interest.
