# Interactive Brokers: Taxes on USD interest

**URL:** <https://forum.mustachianpost.com/t/interactive-brokers-taxes-on-usd-interest/12241>\
**Category:** Investing / Portfolios\
**Created:** [March 21, 2024, 1:05pm UTC](https://forum.mustachianpost.com/t/interactive-brokers-taxes-on-usd-interest/12241 "2024-03-21T13:05:16Z")\
**Posts on this page:** 7\
**Page:** 1

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**Author:** ![cyberhigh](https://forum.mustachianpost.com/letter_avatar_proxy/v4/letter/c/919ad9/32.png) [@cyberhigh](https://forum.mustachianpost.com/u/cyberhigh)\
**Post date:** [March 21, 2024, 1:05pm UTC](https://forum.mustachianpost.com/t/interactive-brokers-taxes-on-usd-interest/12241/1 "2024-03-21T13:05:16Z")

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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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**Author:** ![nabalzbhf](https://forum.mustachianpost.com/user_avatar/forum.mustachianpost.com/nabalzbhf/32/3277_2.png) [@nabalzbhf](https://forum.mustachianpost.com/u/nabalzbhf)\
**Post date:** [March 21, 2024, 1:07pm UTC](https://forum.mustachianpost.com/t/interactive-brokers-taxes-on-usd-interest/12241/2 "2024-03-21T13:07:03Z")

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

edit: and they’re interests, not dividends.

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**Author:** ![cyberhigh](https://forum.mustachianpost.com/letter_avatar_proxy/v4/letter/c/919ad9/32.png) [@cyberhigh](https://forum.mustachianpost.com/u/cyberhigh)\
**Post date:** [March 22, 2024, 3:59pm UTC](https://forum.mustachianpost.com/t/interactive-brokers-taxes-on-usd-interest/12241/3 "2024-03-22T15:59:23Z")

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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?

 ![image](https://forum.mustachianpost.com/uploads/default/original/2X/d/dd11a96fa3edc0958d97480585f6da255393add4.png)

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**Author:** ![Dr.PI](https://forum.mustachianpost.com/user_avatar/forum.mustachianpost.com/dr.pi/32/5299_2.png) [@Dr.PI](https://forum.mustachianpost.com/u/Dr.PI)\
**Post date:** [March 22, 2024, 4:06pm UTC](https://forum.mustachianpost.com/t/interactive-brokers-taxes-on-usd-interest/12241/4 "2024-03-22T16:06:56Z")

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Interest that was paid. None of those.

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**Author:** ![cyberhigh](https://forum.mustachianpost.com/letter_avatar_proxy/v4/letter/c/919ad9/32.png) [@cyberhigh](https://forum.mustachianpost.com/u/cyberhigh)\
**Post date:** [March 22, 2024, 4:18pm UTC](https://forum.mustachianpost.com/t/interactive-brokers-taxes-on-usd-interest/12241/5 "2024-03-22T16:18:40Z")

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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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**Author:** ![nabalzbhf](https://forum.mustachianpost.com/user_avatar/forum.mustachianpost.com/nabalzbhf/32/3277_2.png) [@nabalzbhf](https://forum.mustachianpost.com/u/nabalzbhf)\
**Post date:** [March 22, 2024, 4:51pm UTC](https://forum.mustachianpost.com/t/interactive-brokers-taxes-on-usd-interest/12241/6 "2024-03-22T16:51:55Z")

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Interest payments don’t have US withholding.

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**Author:** ![Abs\_max](https://forum.mustachianpost.com/user_avatar/forum.mustachianpost.com/abs_max/32/12379_2.png) [@Abs\_max](https://forum.mustachianpost.com/u/Abs_max)\
**Post date:** [March 22, 2024, 8:30pm UTC](https://forum.mustachianpost.com/t/interactive-brokers-taxes-on-usd-interest/12241/7 "2024-03-22T20:30:48Z")

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What I do is following

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