In an investment statement, what does the term federally taxable mean? Is that the amount owed to the IRS?

I'm looking at an old investment statement and was wondering if "Federally Taxable" means that is the amount owed to the IRS for that particular statement? I'm looking at a line that is listed under "source of income" first column is Federally taxable credit interest earned. The second column is "current period" then the dollar amount under that. The third column is "year to date" and then there's a much larger dollar amount under there. I'm reading this as the current period amount shown could be whats owed to the IRS correct?|||That amount is taxable at a rate based on your current income tax bracket. Your broker has no way of knowing your bracket, so can't calculate a tax.|||No, it means this is the amount of interest income you will add to your tax return on the line right below the one where you enter your wage income.





If your tax bracket is 10%, you could owe 10% of of the additional income in tax.





The current column is the amount of interest earned this month; the YTD colum is the amount of interest earned since the beginning of the year. The amount for YTD on the December statement is the one that will be reported to you on the 1099-INT and is the amount you put on your tax return.