Roth & bank cert. of deposit (CD) vs IRS 1099

[Lee c]

I have Roth IRA funds invested in a bank 2 year Certificate of
Deposit (CD).

I opened this CD February 2012, it matures Feb 2014.

I am 70 years old.

Will I get a yearly IRS 1099 for the interest earned on this Roth
CD?

�or will I only get a 1099 at the CD maturity?

�..or will I _NEVER_ be issued a 1099?

Unhappily, I get conflicting answers at the bank where I purchased
this CD.

Tnx folks��..

Lee C.

[Rich Carreiro]

Lee c <ka0...@gmail.com> writes:

>I have Roth IRA funds invested in a bank 2 year Certificate of
>Deposit (CD).
>
>I opened this CD February 2012, it matures Feb 2014.
>
>I am 70 years old.
>
>Will I get a yearly IRS 1099 for the interest earned on this Roth
>CD?

No.

>or will I only get a 1099 at the CD maturity?

No.

>..or will I _NEVER_ be issued a 1099?

Yes.

A Roth IRA is a black box. Until money comes out of
the Roth IRA -- regardless of what happens inside it --
neither you nor the bank report anything to the IRS.

Note further that the CD maturing is NOT money
coming out of the Roth -- unless your bank actually
sends the money to you (or puts it in a non-tax-advantaged
account) when the CF matures.

--
Rich Carreiro rlc-...@rlcarr.com