Comments on: Savings Bond registration and possession basics http://www.savings-bond-advisor.com/savings-bond-registration-and-possession-basics/ Thu, 18 Mar 2010 07:03:14 +0000 http://wordpress.org/?v=2.0.4 by: Tom Adams http://www.savings-bond-advisor.com/savings-bond-registration-and-possession-basics/#comment-63337 Wed, 17 Mar 2010 15:47:30 +0000 http://www.savings-bond-advisor.com/savings-bond-registration-and-possession-basics/#comment-63337 James - <i>You</i> cannot get the name on the bonds changed. Your friend could, however. But be aware that if these are EE bonds, your friend paid half the face value of the bonds. Tom Adams James - You cannot get the name on the bonds changed. Your friend could, however.

But be aware that if these are EE bonds, your friend paid half the face value of the bonds.

Tom Adams

]]> by: James http://www.savings-bond-advisor.com/savings-bond-registration-and-possession-basics/#comment-63323 Wed, 17 Mar 2010 01:51:39 +0000 http://www.savings-bond-advisor.com/savings-bond-registration-and-possession-basics/#comment-63323 Hi, I have a friend who has some a couple saving bonds that he bought about 4 months ago to save but he lost his job so he asked me if I wanted to buy them. I need to know if theres any way I can get it changed from his name into my name. Hi, I have a friend who has some a couple saving bonds that he bought about 4 months ago to save but he lost his job so he asked me if I wanted to buy them. I need to know if theres any way I can get it changed from his name into my name.

]]> by: Tom Adams http://www.savings-bond-advisor.com/savings-bond-registration-and-possession-basics/#comment-51371 Mon, 16 Nov 2009 15:46:52 +0000 http://www.savings-bond-advisor.com/savings-bond-registration-and-possession-basics/#comment-51371 Kathy - the info you're looking for is <a href="http://www.savings-bond-advisor.com/fixing-misspelled-name-on-savings-bond/" rel="nofollow">here</a>. The SSN on the bond is only used to track it if it is lost. Your mother can't cash the bonds unless her name is on them. Tom Adams Kathy - the info you're looking for is here. The SSN on the bond is only used to track it if it is lost. Your mother can't cash the bonds unless her name is on them.

Tom Adams

]]> by: Kathy http://www.savings-bond-advisor.com/savings-bond-registration-and-possession-basics/#comment-51213 Sat, 14 Nov 2009 02:47:17 +0000 http://www.savings-bond-advisor.com/savings-bond-registration-and-possession-basics/#comment-51213 I received two Patriot Bonds Series EE from my mother and my last name was spelled terribly incorrectly. My mother's SS# was used on the bonds. Do I have to have the name corrected before cashing them and if so, how? Or can she cash them because her SS# is on them? I received two Patriot Bonds Series EE from my mother and my last name was spelled terribly incorrectly. My mother's SS# was used on the bonds. Do I have to have the name corrected before cashing them and if so, how? Or can she cash them because her SS# is on them?

]]> by: Tom Adams http://www.savings-bond-advisor.com/savings-bond-registration-and-possession-basics/#comment-45619 Mon, 03 Aug 2009 15:14:34 +0000 http://www.savings-bond-advisor.com/savings-bond-registration-and-possession-basics/#comment-45619 Kathleen - The Treasury rep didn't sound confident because although the Treasury will allow you to do this, the IRS insists it's the original owner who owes the tax. But it sounds like your father has a lower tax rate than you do, so it's to your advantage to have him pay the tax, not you. So have him cash the bonds, hold back what he needs for his taxes, and then give you the rest of the money. If you went through the hoops to get the bond money on your tax form, you'd pay more in tax and end up with less money. Tom Adams Kathleen - The Treasury rep didn't sound confident because although the Treasury will allow you to do this, the IRS insists it's the original owner who owes the tax.

But it sounds like your father has a lower tax rate than you do, so it's to your advantage to have him pay the tax, not you.

So have him cash the bonds, hold back what he needs for his taxes, and then give you the rest of the money. If you went through the hoops to get the bond money on your tax form, you'd pay more in tax and end up with less money.

Tom Adams

]]> by: Kathleen http://www.savings-bond-advisor.com/savings-bond-registration-and-possession-basics/#comment-45575 Sat, 01 Aug 2009 19:40:20 +0000 http://www.savings-bond-advisor.com/savings-bond-registration-and-possession-basics/#comment-45575 Hi Tom, My father has given my brother and I some EE Bonds. Currently they are POD, but he would like for us to use them now toward a purchase of a home. We do not want him to get hit with the taxes at the end of the year. A treasury rep at their 800 line said we can achieve this by having them reissued in co-names, then the person who actually cashs them will be responsible come tax time. He didn't sound confident in his response. Is there really a sure way to avoid my father taking the hit come tax time? He currently falls below the poverty level. Thanks in advance for your advice! Hi Tom,

My father has given my brother and I some EE Bonds. Currently they are POD, but he would like for us to use them now toward a purchase of a home. We do not want him to get hit with the taxes at the end of the year. A treasury rep at their 800 line said we can achieve this by having them reissued in co-names, then the person who actually cashs them will be responsible come tax time. He didn't sound confident in his response. Is there really a sure way to avoid my father taking the hit come tax time? He currently falls below the poverty level. Thanks in advance for your advice!

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