Thank you for your responses.
So, the part in pub 550 -- pg 20 -- that says If you buy a CD with a maturity of more than 1 year, you must include in income each year a part of the total interest due and report it in the same manner as other OID. is not applicable to my case?
Here is another link someone else included in a different threat.
https://www.goldinglawyers.com/how-does-the-irs-tax-foreign-certificate-of-deposit-interest/#:~:text...
@AmyC
If I decide to to pay interest to the IRS for the 11 months that the CD was open in 2024 and then in 2025 for the 7 remaining months, will that cause and issue with IRS ?? I simply would like to do the right thing and feel secure that I wont be penalized or audited.
Again, all interests in my CDs are not paid until maturity (whether they were 12 months or 18 months).
