Yes. While Tellus can not provide any advice or insight regarding your specific tax situation, cash rewards and interest you earn with Tellus are generally taxable income under federal law, and under state law where it applies. They are taxed as ordinary income, not capital gains.

If you earn $10 or more in a year, we'll make Form 1099-INT available in the app early the following year. Use it to file your taxes.

For questions about your specific situation, always talk to a tax professional.

Tellus is not a bank. Tellus is not FDIC-insured.