When reporting a Certificate of Deposit (CD) on a 1099-B form, it may be from a brokered CD. This type of CD is purchased through a brokerage firm rather than a traditional bank. Here's a summary of how it may work: Interest Earned: The interest earned from the CD is normally reported on a 1099-INT form. Capital Gains and Losses: Any capital gains or losses from the sale or maturity of the CD might be reported on a 1099-B form. On the 1099-B form, a brokered CD should generally be classified as a bond or debt instrument. The description might say something like "Brokered CD in Box 1a.For more detailed information, you can refer to the IRS Instructions for Form 1099-B - see instructions for Box 1a. See the original post here.

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Question

What type of investment is a CD on a 1099-B form? My choices are:OptionBondCrytocurrencyMututal Fuind, index fund, or ETF

Forum|Forum|1 year ago
March 1, 2025
1 reply
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SabrinaD2

When reporting a Certificate of Deposit (CD) on a 1099-B form, it may be from a brokered CD. This type of CD is purchased through a brokerage firm rather than a traditional bank.

Here's a summary of how it may work:

Interest Earned: The interest earned from the CD is normally reported on a 1099-INT form.
Capital Gains and Losses: Any capital gains or losses from the sale or maturity of the CD might be reported on a 1099-B form.
On the 1099-B form, a brokered CD should generally be classified as a bond or debt instrument. The description might say something like "Brokered CD in Box 1a.

For more detailed information, you can refer to the I RS Instructions for Form 1099-B - see instructions for Box 1a.

See the original post here.