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Last Updated: May 26, 2011
A taxable account is an investment account that is created with after-tax dollars (i.e., money that has already been taxed when it was received as income). With a taxable account, an investor pays income tax each year on the interest, dividends, and/or capital gains earned by the investment(s) in the account. The amount of investment earnings is reported to the investor and the IRS by the account custodian.
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