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Is interest income on CDs taxable if I roll them over. Not withdraw?

Is Earned interest on CDs taxable if rolled over?
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2 Replies
SusanY1
Employee Tax Expert

Is interest income on CDs taxable if I roll them over. Not withdraw?

Yes, interest on CDs that are rolled over is taxable in the year that it is credited to the account - unless the CDs are retirement account/IRA CDs.  

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Is interest income on CDs taxable if I roll them over. Not withdraw?

Thank you much!

 

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