<prompt> Human: I didnt notice if my return dropped by the exact amount of interest I earned, but it was close.I used Turbo Tax to do my taxes, so it shows your current expected return at the top of the program as you go along. When I entered in the 1099-INT numbers for my savings account, the expected return amount dropped by approximately the amount of interest I earned. Like if I entered in 50 of interest, my return amount dropped by 50.If that is how taxes work for the interest earned on a savings account where it seems to cancel itself out in the end, I guess I dont see the point in using a high interest account versus putting the money in a different type of account. I guess Im asking if its correct that I end up earning basically nothing because of taxes, and if I shouldnt bother with a high interest savings account at all.  <response>: Thats not a very typical result. Interest is taxed, but not at 100. A typical rate is like 25. There would be something else going on if that happened, like you lost a deduction because you hit an income threshold, but it would just be a coincidence. 