Broker sold CDs

[Roberts]

Client has a bunch of broker sold CDs that mature throughout the year and new CDs are purchased. These things show up on the 1099-B. Do you include them on the schedule D? There is no gain or loss and the interest is paid and reported as a regular CD.

In the past I've never entered them but the clients accountant last year just put in "VARIOUS CD's, VARIOUS under dates and showed cost and proceeds as the same amounts.

Opinions?

[jainen]

must be shown separately

>>VARIOUS CD's, VARIOUS under dates<<

CD's are capital assets and sales must be listed to report the basis. The instructions to Schedule D do not permit them to all be lumped together--each transaction must be shown separately.

[Roberts]

CD's

They weren't sales, they were maturing CDs. Is a maturing CD really a transaction per schedule D?

[Jesse]

Are they CD's or Bonds?

[Roberts]

CDs

They are broker sold CDs from banks all over the country. He has twelve one year CDs and they are laddered to mature monthly.

[Donanita]

CD's

If on a 1099B must be listed individual on the Sch D.As a return of capital the date aquired and the date sold would be the same and the sale and basis price would be the same. List as a cert. return of capital.Have had no problem doing this but they must be listed on Sch D