I purchased and sold a few brokered short-term CDs. Interests received were shown in 1099-INT. Do I need to report the sales on form 8949 ?

[simon7012]

I purchased and sold a few brokered short-term  Certificate of Deposit (CDs; all new
 issues) from a brokerage firm during 2016.  The CDs were  redeemed at full values without any capital gain or loss.   The transactions were not reported in 1099-B, only
 the interests received were shown in 1099-INT.    Do I need to report the sales on form 8949 ?  Thank you.
 

[LeeM]

No, you would not have to report those sales on Form 8949. You would only need to report the taxable interest (on your Form 1099-INT). As long as you entered your 1099-INT, you are fine.

Interest earned on a CD may be paid to another account or it can be reinvested in the total balance. Regardless of how the interest is credited back to the investor, it is considered taxable for both state and federal tax purposes. The bank or credit union that issued the CD provides the owner of the account with a 1099-INT statement at the end of every year detailing how much interest was earned, and that amount is taxed as interest income, not at the lower capital gains. If an investor is in a 25% tax bracket and has earned $300 in CD interest for the year, he or she owes $75 in taxes for interest earned that year.