Page 83 - Interest Income - Individuals Handbook
P. 83

Certificates of Deposits


























                                        If you buy a CD with a
                                          maturity of more than
                                          1 year, you must
                                          include in income each
                                          year a part of the total
                                          interest due and
                                          report it in the same
                                          manner as other OID.                               CD’s

                                                                                              Time deposits,
                                                                                              Bonus plans,
                                                                                              Savings certificates,
                                                                                              Deferred income
                                                                                                certificates,
                                                    This also applies to similar              Bonus savings
                                                    deposit arrangements with                   certificates, and
                                                    banks, building and loan                  Growth savings
                                                    associations, etc.,                         certificates.
                                                    including:
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