Hello, how can we help?

Can’t find your answer? – Contact us

Is the interest I earn in my Cash Back Visa Debit Card High-Yield Savings Account considered reportable income?

The Internal Revenue Code outlines the rules for taxation of interest income. The IRS considers most interest that’s paid to you to be taxable income.

If you have taxable interest from a savings account, this would be reported on Form 1099-INT. All Green Dot account holders that earn at least $10 in interest in their High-Yield Savings Account during the calendar year are issued a 1099-INT. 

Apple, the Apple logo, and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc. Google, Android and Google Play are trademarks of Google Inc., register in the U.S. and other countries.

©2021 Green Dot Bank. All rights reserved.