Re: Is CD interest amount entered by month applied to account or at maturity when calculating qua...

Is CD interest amount entered by month applied to account or at maturity when calculating quarterly income for "Annualized Adjusted Gross Income".

I ask this since the interest is not available without penalty until maturity.

posted

You don't count the income until it is actual income, when matured, not while accruing.

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Is CD interest amount entered by month applied to account or at maturity when calculating quarterly income for "Annualized Adjusted Gross Income".