Should I be getting tax forms for my CDs?

Discussion in 'Budget Board' started by CrzyforPiglet, Jan 30, 2010.

  1. CrzyforPiglet

    CrzyforPiglet <font color=CC33FF>You bring a smile the to the Ta

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    So after seeing the ING rate go down, down, down, I took part of our savings and transferred it into 3 CDs, maturing at different times (just in case we needed the money). Well two of them already matured and I just let them roll into another CD and haven't touched the money but I somehow thought though that I would still have to declare the interest on our taxes but when I went to the website there was no option to print any forms out and no recent statements that I haven't gotten. So all that has me thinking - is a 1099 coming or do I not have to report the interest until I cash in the CD?

    Thanks much - I really want to get our taxes done!
     
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  3. Cheshire Figment

    Cheshire Figment <font color=red><marquee behavior=alternate>Friend

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    As long as the amount of interest is $10.00 or more they are required to send you a 1099-INT. However, they have until February 1 to mail them (since January 31 is a weekend).
     
  4. msmayor

    msmayor Finding my beach...

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    Cheshire...I thought I read somewhere that banks/investment companies actually have until February 15th to get their statements to you?
     
  5. Cheshire Figment

    Cheshire Figment <font color=red><marquee behavior=alternate>Friend

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    Check Page 17 of IRS Instructions For Forms 1099 at http://www.irs.gov/pub/irs-pdf/i1099gi_08.pdf. The mailing date for recipients is January 31st and the forms must be sent to the IRS by February 28. And if the due or mailing date is a Saturday, Sunday, or Holiday it is the next business day.
     
  6. extremesoccermom

    extremesoccermom DIS Veteran

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    They don't mail them out. You have to log in to your account. There is a link there for the tax forms. They were ready earlier this week. You should have gotten an email stating your tax forms are now ready to print.
     

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