Last year we put Roth IRA money in to CDs. We got forms from the financial institution showing Fair Market Value (FMV) on Dec 31, 2012. The FMV is less than the account balances.
Is that because if we were to cash out the CDs, we would pay a penalty in the form of lost interest?
I did an internet search but did not find an answer.
If none of you brilliant SA forum members know the answer, I will call the financial institution on Monday.
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