Democratic Underground Latest Greatest Lobby Journals Search Options Help Login

tax question: interest on escrow

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » The DU Lounge Donate to DU
Earth_First Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-06-06 01:16 PM
Original message
tax question: interest on escrow
so we pay an extra $25 a month on top of our rent for various reasons...

about three months ago, our management company opened up an escrow account with m&t bank...

we've been recieving monthly checks for the interest accumulated on the escrow principle...

question is, do we have to pay taxes on that interest this year?

it's a pittance in the grand scheme of things, but will this change anything in our filing process?

THANKS in advance!
Printer Friendly | Permalink |  | Top

Home » Discuss » The DU Lounge Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC