Are earnings taxable?
Yes. Since T-bills are sold when payments or withdrawals are made, retail clients will receive both interest income and capital gains/losses from their T-bill investment. Investment gains and losses, as well as interest income, must all be declared to the IRS. Please contact a tax advisor for advice specific to your situation.
Yes. Since T-bills are sold when payments or withdrawals are made, retail clients will receive both interest income and capital gains/losses from their T-bill investment.
Investment gains and losses, as well as interest income, must all be declared to the IRS. Please contact a tax advisor for advice specific to your situation. Jiko does not offer tax or legal advice.
When tax season comes around, tax documents will be made available. Those documents can be found in the “Profile” tab of the Jiko app.
If a retail client earned $10 or more in interest income the previous year, they will receive a 1099-INT and will have to report that income on their tax return. If the client earned less than $10 in interest with Jiko, no tax documents will be provided since they are not required to report interest income of less than $10 to the IRS.
Jiko will also provide a Form 1099-B showing the trades that have occurred in the client’s brokerage account and the resulting gains and losses.
Please note: Jiko Group, Inc. and its affiliates do not provide legal, tax, or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions. This material is not intended as a recommendation, offer or solicitation for the purchase or sale of any security or investment strategy.