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refe1212
New Member

Where do you list IRA CD contributions? Is this money taxed like that of a Traditional IRA when CD matures if it's not renewed?

If and when IRA CD is renewed is this taxable as income or once renewed can it be classified as additional contribution for year of renewal?
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1 Reply
dmertz
Level 15

Where do you list IRA CD contributions? Is this money taxed like that of a Traditional IRA when CD matures if it's not renewed?

IRA CDs generally automatically renew and the renewal is not a distribution, not a rollover and not a new contribution.  It is not reportable at all.  Only if you chose not to have the IRA CD renew would it be come a distribution, be reported on a Form 1099-R and the Form 1099-R be required to be reported on your tax return.

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