Just an observation while working on my Turbotax return. I welcome all comments on this subject since it is new to me.
I had 6 CDs in a Fidelity brokerage account (not IRA, 401k, Roth, etc), and all 6 were redeemed in 2024. My Fidelity Consolidated Form 1099 reported the interest I received from all 6 accounts in the 1099-INT section. However, the Consolidated form had a 1099-B section with the redemption reporting only 2 of the CDs. There was no capital gains on any of them. They all went to maturity, so they were bought and sold for the same amount. The difference of those 2 CDs from the other 4 was that they were LONG term (held for over 12 months). My guess is that there is some rule somewhere about the Long term versus Short term and 1099-Bs, but I don't know that for certain. Since Fidelity generated the 1099-B portion, I am including it in my Turbotax return.
I had an issue with manually inputting this 1099-B portion into Turbotax since there is no "CD" choice in the description of type of investment. I got around that by just importing the form from Fidelity and letting it complete the 1099-B.
