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Subject Author Date
Security type for Money Market Jeff Schwarz 01-16-2007
Posted by Jeff Schwarz on January 16, 2007, 2:32 pm
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 What security type do you use for Money Markets? CD seems closest, but
Mutual Fund is technically correct, too.
Thanks,
-Jeff



Posted by Jim Jensen on January 16, 2007, 2:59 pm
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 Jeff Schwarz wrote:
> What security type do you use for Money Markets? CD seems closest, but
> Mutual Fund is technically correct, too.
> Thanks,
> -Jeff

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).



Posted by Jeff Schwarz on January 16, 2007, 3:21 pm
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Oh. I get it. thanks.
> Jeff Schwarz wrote:
>> What security type do you use for Money Markets? CD seems closest, but
>> Mutual Fund is technically correct, too.
>> Thanks,
>> -Jeff
>
> 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).
>



Posted by Jim - NN7K on January 16, 2007, 10:48 pm
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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:
> Oh. I get it. thanks.
>> Jeff Schwarz wrote:
>>> What security type do you use for Money Markets? CD seems closest, but
>>> Mutual Fund is technically correct, too.
>>> Thanks,
>>> -Jeff
>> 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).
>>
>
>

Posted by Jeff Schwarz on January 17, 2007, 4:02 pm
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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).



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