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Oklahoma's Personal Financial Literacy PassportStandard 5. Savings and Investing Lesson 5.1 Savings and Investing: Getting Started Lesson 5.2 The Rule of 72 Lesson 5.3 Savings and Investing Tools
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What is savings and investing?
Savings refers to putting money aside for future use, while investing involves putting money into assets with the expectation of generating income or profit.
Who is required to file savings and investing?
Individuals who have savings or investments that generate income, such as interest or dividends, are required to report them on their tax returns.
How to fill out savings and investing?
To fill out savings and investing on your tax return, you will need to report the income earned from your savings and investments, as well as any capital gains or losses.
What is the purpose of savings and investing?
The purpose of savings and investing is to grow your wealth over time and have money set aside for future financial goals or emergencies.
What information must be reported on savings and investing?
You must report any income earned from savings accounts, investment accounts, retirement accounts, and any capital gains or losses on investments.
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