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New Member
posted Apr 13, 2025 8:13:24 AM

Is my 25k CD account interest taxable? I just6 keep rolling it over. No withdrawals.

Is a CD account interest taxable?

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2 Replies
Expert Alumni
Apr 13, 2025 8:15:06 AM

Yes. Interest earned on a CD is taxable, even if it is not withdrawn.

Level 15
Apr 13, 2025 11:10:56 AM

Yes you should get a 1099INT each year from the bank.   If your CD is more than 1 year long, some banks only give you a 1099INT for all the interest when the CD matures.  But most will give you a 1099INT each year for the interest.

 

If the CD is in a IRA or another kind of retirement account you don't report the interest or dividends.