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| *Loan,banking and credit>>>tax accounting |
When filing taxes, do you have to put in how much money is in your savings account? |
My mom is going to be filing my taxes and I don't want her to know that I have almost nothing in my savings. I'm not sure if it will show up or not. No, what your savings account balance is doesn't go into your taxes. But interest on it does, and if she thinks you have a lot in it, she might wonder why you only had 37 cents interest last year. Nope, taxes have nothing to do with your savings or checking accounts, the only information that will appear on your taxes, is the money you have made from your employers. The only time that your savings account will be questioned, is if you make more than like 250 in intrest. so you wont have to worry about it. www.irs.gov No. But she may figure it out when you don't have much (or any) interest to report this year. tax returns are based on your income only, not how much you have in the bank - however, you really should talk to your Mom. tax preparer / mother of 4 all you need to list is any interest earned on the account |
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