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do i have to report my dividends i earn on my certificates at a bank?

Submitted: 1247 days and 18 hours ago.

Category: Tax

Value: $8

Status: AWAITING CUSTOMER ACTION

Answer

Do you mean stock dividends, or interest earned on certificates of deposit? Either way, even if you do not withdraw any of your investment, posted interest or dividends is includable in your income in the year it is declared.

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Expert:	Wendy Rieger
Pos. Feedback:	100.0 %
Answered:	6/24/2006

Enrolled Agent

10+ years tax preparation and tax advice.

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Question

do i have to report my dividends i earn on my certificates at a bank?

Answer

Do you mean stock dividends, or interest earned on certificates of deposit? Either way, even if you do not withdraw any of your investment, posted interest or dividends is includable in your income in the year it is declared.

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