Dear Tax Talk,
I bought a CD in January of 2008 that matured one year later, on Jan. 29, 2009. My bank sent a 1099 for a portion of the interest in 2008 and said I would receive another 1099 for the balance of the interest at the end of 2009. I never took interest from this account until the maturity date, at which time I closed the CD and took both the principal and interest.
The reason I bought a 12-month (more…)