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How do I report Certificates of Deposit? My broker includes them on 1099-B but Turbo Tax does not include options needed to report. Interest on 1099-INT

 
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DianeW777
Expert Alumni

How do I report Certificates of Deposit? My broker includes them on 1099-B but Turbo Tax does not include options needed to report. Interest on 1099-INT

Report the certificate of deposit by selecting 'Bond'. It is treated like a bond redemption and will have the same affect on your tax return. It's likely you have the same cost basis as redemption value since you would have reported the interest income each year as it was earned from your certificate of deposit.

 

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