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You listed the dividends (the unfortunate credit union term for interest) earned on the CDs. But that is not important. For tax purposes, you need to know the dividends paid.

The CDs with terms over 1 year probably pay the interest either once a year, or quarterly. The shorter ones may pay the interest only at maturity.

You'll need to dig through your records to see what interest payments were actually made.


It really doesn't matter how often the CD pays interest. I looked up the rules after my earlier post. CDs with terms under one year are generally taxed at maturity (though you can opt to report on an as earned within tax year basis). CDs with terms of more than one year are treated like OID. Interest is reported annually whether actually received or not.

Ira

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