audreyh1
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
That is my understanding. I don’t worry about accrued interest, just when it’s paid.
If a CD doesn’t pay out in a given year, you don’t owe taxes on income you didn’t yet receive.
If a CD is paying a coupon during a given year, that is income received even if reinvested in the CD.
I also have had some CDs >12 months (like 14, 15, 16, 18) that pay at maturity, but they also pay out YTD accrued interest in Dec.
If a CD doesn’t pay out in a given year, you don’t owe taxes on income you didn’t yet receive.
If a CD is paying a coupon during a given year, that is income received even if reinvested in the CD.
I also have had some CDs >12 months (like 14, 15, 16, 18) that pay at maturity, but they also pay out YTD accrued interest in Dec.
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