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March 29, 2020
Question

I had two CDs that did not mature until Jan 2020 yet the accrued interest deposited monthly into my checking during most of 2019. Is interest reportable for 2019?

  • March 29, 2020
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1 reply

March 29, 2020

The interest earned on a CD is reported on form 1099-int each year and is required to be reported. However, you only pay tax on the portion of the interest that was available to you. Please view this link for more information about reporting CD interest.

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