Do I report interest earned from 3 Certificates of Deposits? I have not taken any money out of these CDs. They mature and I let them roll back over

Level 15

Jun 4, 2019 2:50:28 PM

You used the term interest "earned", but was the interest credited and paid in 2018? Your bank should have given you a 1099-INT if they actually paid interest into the CDs in 2018. It might be considered paid even though you choose to have it accumulate with the CD and didn't withdraw the credited interest. If you didn't receive a 1099-INT, you may have to ask your bank if it's not clear whether you actually received "credited and paid interest" or not.

New Member

Jun 4, 2019 2:50:29 PM

I checked with the bank and they stated that none of the 3 CDs made $10.00 or more, so thats why I didnt get a 1099 for them. Also stated that I didnt have to report the interest earned. Its only $15.00 for the three combined

Level 15

Jun 4, 2019 2:50:32 PM

This answer assumes you are otherwise required to file a return. You didn't specifically say, but I assume you are preparing a return for other reasons.

If the interest is considered "credited and paid" (even if not withdrawn), then all income is reportable even if you don't receive a 1099-INT due to it being less than $10. If that's your situation, you can enter the few dollars of interest without a 1099-INT by entering it in the Box 1 field on the Interest Income screen in the 1099-INT interview topic.

Level 15

Jun 4, 2019 2:50:34 PM

@cdl241
I added another couple of sentences above, that his answer assumes you are otherwise required to file a return. You didn't specifically say, but I assume you are preparing a return because you need to for other reasons.

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Do I report interest earned from 3 Certificates of Deposits? I have not taken any money out of these CDs. They mature and I let them roll back over