You'll need to sign in or create an account to connect with an expert.
If the interest earned is outside of a tax deferred retirement account then the interest is taxable income and has to be reported on your tax return.
many securities including CDs. most treasury obligations and other types of interest-bearing securities require that interest be reported annually even if not cash in and also when rolled over into another security. E-bonds and I-bonds allow deferral of interest until they mature or are cashed in.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
sweetyo67
Returning Member
Chrisgmitchell
Level 3
cririuss_ca
Level 2
scmori
New Member
NewDawn
Level 2