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sbchapp
Level 2
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  • If the value of the CD was less on the date of death due to the increase in interest rates, why would I be responsible for a capital gain tax on this CD that I ...
    sbchapp
    1
    Updated Mar 18, 2025
  • The cost basis reported on the 1099-B was less than the face value of the CD and therefore a gain was reported, so I am not sure I follow your example. Accordin...
    sbchapp
    3
    Updated Mar 18, 2025
  • The proceeds were reported as the face value of the CD and the cost basis was reported as the FMV, I assume, on the date of death. As mentioned earlier, the CD ...
    sbchapp
    5
    Updated Mar 18, 2025
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