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cdeba
Level 1
October 30, 2018
Question

Death Beneficiary on a CD

  • October 30, 2018
  • 2 replies
  • 34 views

I was the beneficiary on a CD.  Will I pay taxes on this?

 

Thank you!

    2 replies

    Carl
    Level 11
    CarlLevel 11
    Level 11
    October 31, 2018

    No. But you will pay taxes on earnings that have accumulated since the passing of the original owner. This is assuming taxes on the earnings accumulated earnings up to the date of their passing are/were paid on their final return, or estate return before the CD was transferred to you.

    W
    Wmassive
    Level 2
    March 5, 2020

    My mother died and I was a beneficiary on her CD. Do I pay taxes on the money I received?

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