An individual who forfeits a penalty for prematurely withdrawing a certificate of deposit (CD) is allowed to net the penalty against the interest income from the CD.The early withdrawal penalty is treated as an above-the-line deduction.

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The Answer of An individual who forfeits a penalty for prematurely withdrawing a certificate of deposit (CD) is allowed to net the penalty against the interest income from the CD.The early withdrawal penalty is treated as an above-the-line deduction.

An Individual Who Forfeits a Penalty for Prematurely Withdrawing a Certificate