IRS Publication 550

IRS Publication 550 provides guidance on investment income and expenses for tax purposes. It outlines how to report interest, dividends, capital gains, and losses from investments. The publication also explains rules for deductions related to investment expenses, such as fees and commissions. It highlights tax treatment differences for various investment types, like stocks, bonds, and mutual funds. Understanding Publication 550 is essential for taxpayers who want to accurately report investment income on their tax returns and ensure they are taking advantage of relevant deductions and credits allowed by the IRS.