Hello again, all. I have a client who I am trying to help out. She is executor of her father's trust. She had opened several CDs in 2007, which were 11 months in term length. The bank where those CDs reside does not pay out interest, nor report interest, on CDs less than 12 months in length, until the maturity date(s).Does she have to calculate the interest accrued through 12/31/07 and report it on the trust's tax return? Or since the interest is compounding and set to be paid out in 2008, can that just go on 2008's trust tax return?I would like to have a reference on the IRS website to point her towards. Thankskasha
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