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K
ktripp23
April 13, 2025
Question

Is my 25k CD account interest taxable? I just6 keep rolling it over. No withdrawals.

  • April 13, 2025
  • 2 replies
  • 0 views
Is a CD account interest taxable?

2 replies

M
MinhT1
April 13, 2025

Yes. Interest earned on a CD is taxable, even if it is not withdrawn.

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VolvoGirl
VolvoGirl
Employee
April 13, 2025

Yes you should get a 1099INT each year from the bank.   If your CD is more than 1 year long, some banks only give you a 1099INT for all the interest when the CD matures.  But most will give you a 1099INT each year for the interest.

 

If the CD is in a IRA or another kind of retirement account you don't report the interest or dividends.  

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