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Level 6

I have a 2 year CD When is interest taxed ?

If you have a two year CD , is the accrued interest taxed yearly or when the CD matures?

1 Reply
Level 14

I have a 2 year CD When is interest taxed ?

depends on when the interest is paid to you but it can't be deferred for more than 1 year. 

 

here is a good explanation

 

https://ttlc.intuit.com/questions/3603011-cd-earnings-affect-on-taxes