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New Member
posted Feb 24, 2021 12:47:48 PM

How do I account for a CD being cashed out?

cashed out a CD with my bank, how do I account for that on income

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1 Replies
Expert Alumni
Feb 24, 2021 12:59:03 PM

You don't per se, unless it was in a IRA and you cashed it out.  You only report the interest.  You will get a 1099Int for Interest.