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kuppuswamy-raja
Level 2

I opened a CD in November 2017. The deposit matures in November 2018 with interest credited only in 2018. should I declare this in 2017 tax filing and if so, where? Thx

CD is from ALLY bank. Only account opening form was received from ALLY so far.
1 Reply
rayro63
New Member

I opened a CD in November 2017. The deposit matures in November 2018 with interest credited only in 2018. should I declare this in 2017 tax filing and if so, where? Thx

Only when the interest is actually paid to you (11/2018)  do you have to declare it.

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