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CD's maturing and taxes

I have CD's at many banks and one is always maturing every other month . Should I just rely on the 1099 to know how much tax I owe, or do you make a record of each one in a notebook and tally that up? It seems managing even a small amount of money is a job in itself!

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Reply to
nonsense
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I'm sure you have to pay the tax if you owe it. I've always received

1099s for my CD's so I'm not sure where you have a problem. Have you moved? Have interest reported on Schedule K-1? I usually ball park my expected interest and so far my 1099s seem to agree. irs.gov is actually pretty good. Start at publication 550:
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Good Luck with your taxes!

-------------------------------------- Misc.invest.financial-plan is a moderated newsgroup where Moderators strive to keep the conversations on-topic for financial planning. Other posting guidelines include a request for brevity and another for trimming posts to which we respond. For all of the other tips and suggestions, see "FROM THE MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the Newsgroup.

Reply to
camgere

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