Comments on: Stepped-up cost basis for inherited Savings Bonds? http://www.savings-bond-advisor.com/cost-basis-for-inherited-savings-bonds/ Thu, 18 Mar 2010 07:03:25 +0000 http://wordpress.org/?v=2.0.4 by: Tom Adams http://www.savings-bond-advisor.com/cost-basis-for-inherited-savings-bonds/#comment-36271 Wed, 18 Feb 2009 16:11:15 +0000 http://www.savings-bond-advisor.com/cost-basis-for-inherited-savings-bonds/#comment-36271 Denis - yes, that's permissible, but you need to get all the details right to satisfy the IRS. My book has the details you need to do this. Tom Adams Denis - yes, that's permissible, but you need to get all the details right to satisfy the IRS. My book has the details you need to do this.

Tom Adams

]]> by: Denis http://www.savings-bond-advisor.com/cost-basis-for-inherited-savings-bonds/#comment-36237 Wed, 18 Feb 2009 02:51:41 +0000 http://www.savings-bond-advisor.com/cost-basis-for-inherited-savings-bonds/#comment-36237 is it permissible for the deceased to pay the taxes on the the interest as part of the final tax return? For instance, Tom died July 31,2008 with $40000 worth of bonds. Tom will pay income tax on all interest accrued to 7/31/08. Mary, his heir, will pay income tax on all interest from 7/31/08 to 11/28/08--the date all were cashed. Thanks for your assistance is it permissible for the deceased to pay the taxes on the the interest as part of the final tax return? For instance, Tom died July 31,2008 with $40000 worth of bonds. Tom will pay income tax on all interest accrued to 7/31/08. Mary, his heir, will pay income tax on all interest from 7/31/08 to 11/28/08–the date all were cashed.

Thanks for your assistance

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