How do you report CD redemptions on tax form?

Question

my brokerage accounts report Certificate of deposit redemptions on form 1099 B. Is it necessary to report these since we already have reported interest income elsewhere.

Answer 1

To avoid any questions or hassle, if they're reported on a 1099 B you might want to list them on a schedule D, with the sales price and cost the same. Your interest that you got, of course, goes on the interest line of your 1040.

Answer 2

no,, just the interest is taxable, you already paid tax on the money you deposited into the CD

interest goes on line 8 of form 1040,, and if you have as much as $1,5000. you include schedule b