pk
Level 15
Level 15

Get your taxes done using TurboTax

@Sofyan , per your example

 

 :

 Checking/ Saving account  amounts  -----   25,000  ->  0  ->  1000 -> 26,000 -> 27,600 ->12,600

 

Certificate account amounts -------------------  0 ->             25,000 --> 25,000 ->  0    - >  0  ->  15,000

 

Thus  if you were to report  these  two accounts   as ONE account  then max value for the year  is 27,600

 

If on the other hand you choose to show these as two different accounts  in the same bank

 

Savings/Checking  Max for the year -- 27,600

Certificate account max value for the year ---- 25, 000

 

In my view since the certificates  ( fixed for a period ) and Checking/Savings accounts are in the same bank and  describable  as two bins  in the same bank,  I would  declare these as ONE account  with a max value of  27, 600.

 

Does this make sense ?   Is there more I can do for  you ?

 

pk