Security type for Money Market

If it's with a brokerage firm like Fidelity or Vanguard, I would classify it as a mutual fund investment account (it pays dividends). If it's one of the savings/check writing money market products offered by banks, I would classify it as a checking account (it pays interest).

As for me-- as ANY "dividends" will be treated as Plain Income, for tax purposes, Just treat it as Income(Read CD)! (unless it can have Capital Gains TAX consequences, like a FOREIGN money market fund, because of currency values). Kinda like the "Dividends" that a Credit Union pays,they are subject to INCOME tax, not Capital Gains tax! Jim

Jeff Schwarz wrote:

I could never tell the difference between income and dividend on my tax form. They all seemed to go to the same place (but I haven't looked at the forms since they created this new qualified dividend, for stocks, so who knows now).