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I put $10,000 in a mutual fund and just gained interest, how do I report the interest on my taxes? Should I receive a slip from bank?

 
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I put $10,000 in a mutual fund and just gained interest, how do I report the interest on my taxes? Should I receive a slip from bank?

Yes, you should be receiving an information slip as seen in our TurboTax article: Mutual Funds and Taxes

At the beginning of each year, the administrator of your mutual fund sends you a slip detailing your income from the previous tax year. Not all of your earnings are considered to be taxable income, but your slips advise you accordingly.

 

You may wish to contact your financial institution.

 

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