Statement of Investment Income: Who Qualifies and What You Get
Understand how the Statement of Investment Income works to help you report your investment earnings accurately for tax season.
The Statement of Investment Income is a document provided to help you report the money you earned from your investments when you file your taxes.
Who it's for
This is for anyone who earns money through interest, dividends, or other types of investment income.
What you get
You receive a summary of your taxable investment income. This document makes it easier to report exactly how much you earned from your financial holdings during the year.
What it costs you
There is no cost to you. Your broker or financial institution issues this document to you automatically.
The catch to know
You should not assume the document is perfect. Always double-check that the amounts listed on the statement match your own personal financial records before you file your taxes.
How to apply
- Monitor your investment accounts throughout the year.
- Wait for your financial institution to generate your annual statement.
- Review the document to ensure the totals match your records.
- Use the information provided to complete your tax filing.