Interactive Brokers: Taxes on USD interest

Investing / Portfolios
1

Hi guys

Maybe already discussed, but didnt find the info I was looking for.

I held quite some USD last year on IB, which payed like 4%+ interest. If I remember correctly, interest is taxed like dividends and needs to be reported (as dividends?) to the tax authorities in Switzerland, no?

Never had interest, therefore the question.

Best,

Reto

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2

Yes, this is taxed as income and should be reported.

edit: and they’re interests, not dividends.

3

Ok. In the IB report, it is written “Interest Accrued” + Accrual Reversal and then ending accrual Balance. Which of these is now relevant for the tax declaration?

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4

Interest that was paid. None of those.

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5

Found it. Thanks.

From what I see, the interest that I received in USD was not taxed in the US (no withholding tax). Is that correct?

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6

Interest payments don’t have US withholding.

7

What I do is following

  • Broker interest received is reported as income
  • broker interest accrued is part of end of year wealth