- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
OK, thanks for verifying that interest earned post-mortem is taxable to the beneficiaries as ordinary interest income. But I still don't unstained if any taxes are due by anyone on interest earned between the time when the CD was opened and when the last decedent (my mother, in this case) died. Are you saying that when the last decedent dies, all interest accrued from for the entire length of time from the opening of the CDs until the CDs are redeemed by the beneficiaries after the death of the decedent becomes post-mortem interest and is includible in the income of the respective beneficiaries and taxed as such?
‎July 27, 2024
10:53 AM