Submitted By: someone
Answered: April 15, 2014 8:30 am

Can I roll over a CD tax free?

If the CD is in a tax-deferred or tax-free account, such as an IRA or Roth IRA, interest on the CD is not currently taxed; the rollover of the CD when it matures is not a taxable event. If the CD is in a taxable account, interest is taxable, but again rolling over the proceeds when the CD matures is not a taxable event.

Tags: CD, IRA
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Tax Glossary

Independent contractor

One who controls his or her own work and reports as a self-employed person.

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