• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

Pod Cd

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.


Junior Member
What is the name of your state? Georgia

The seniorjudge of Wills, Trusts and Estate Planning advised me he was unable to answer the following question and suggested I contact you for an answer.

What is the Federal tax liabillity of a person who receives a bank POD Certificate of Deposit? If there is a liability is a 1099 form sent to the payee.


Senior Member
The liability is to pay the taxes on any interest earned after the prior owner's death. Interest earned before the prior owner's death is reported on the decedent's estate tax return as "income in respect of the decedent."

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential