will I have to pay taxes on cd from father when he died
my father had a cd in my name when he died for $18,000. he is not on my birth cert so I will I have to pay taxes on it . will I get a 1099 on interest. I live in RI
01166
1 Replies
R-SchuleCPA
Expert Alumni
Nov 16, 2022 12:41:55 PM
Yes, since the CD is in your name, along with a 1099. You will need to report interest on Schedule B of your tax return.