US Savings Bonds/Savings Bond taxes

Federal income tax brackets

Monday, November 10th, 2008
Categorized as: Savings Bond taxes
14 Comments
Yesterday the IRS announced its inflation adjustments for the 2008 tax year.

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Why and how to avoid income lumps

Tuesday, June 20th, 2006
Categorized as: Savings Bond taxes
3 Comments
In his column for June 14, Learning to avoid 'taxable events', Scott Burns of the Dallas Morning News answers two questions about avoiding lumps of income that will push you into a higher tax bracket.

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Tax law change impacts kiddie tax and Roth IRAs

Thursday, June 1st, 2006
Categorized as: Savings Bond taxes
2 Comments
Kiddle tax raised from 14 to 18 years old as of 1/1/2006; income limits removed on rollovers from traditional IRAs to Roth IRAs in 2010.

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Do you really want a tax-free investment?

Friday, April 21st, 2006
Categorized as: Savings Bond taxes • Savings Bond news
2 Comments
St Petersburg Times Personal Finance Editor Helen Huntley is as frustrated as I am with investors who would rather lose money than pay taxes.

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Buy a house, get a deduction on Savings Bond interest?

Monday, April 3rd, 2006
Categorized as: Savings Bond taxes
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Can I avoid income tax on my Savings Bond interest by using the proceeds to buy a house?

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Should the elderly redeem their bonds before passing them to heirs?

Tuesday, March 28th, 2006
Categorized as: Savings Bond taxes • Inheriting and bequeathing US Savings Bonds
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My dad is 92 and in pretty good health. He has a large investment in Savings Bonds. Should he cash the bonds in or leave them to be cashed after his death?

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Am I an accrual or cash method taxpayer?

Friday, March 24th, 2006
Categorized as: Savings Bond taxes
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I purchased a Series I Savings Bond through Treasury Direct. Am I using accrual method accounting or the cash method? The IRS instructions say this will decide whether I should report Savings Bond interest as income each year or later.

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Savings Bonds, estate planning, living trusts, and avoiding probate

Tuesday, February 28th, 2006
Categorized as: Savings Bond taxes • Inheriting and bequeathing US Savings Bonds
8 Comments
What is a living trust? What is probate? What are the problems of living trusts? How do Saving Bonds fit into all this? What about about estate taxes?

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Who pays the taxes

Tuesday, January 31st, 2006
Categorized as: Savings Bond taxes
43 Comments
If a Savings Bond has the social security number of the owner but is cashed by the co-owner, who is responsible for the income taxes on the interest?

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Tax-free Savings Bond interest income using gifts to charities

Sunday, March 20th, 2005
Categorized as: Savings Bonds as gifts and prizes • Savings Bond taxes
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Is there any way to avoid paying taxes on Savings Bond interest - for example, signing them over to a relative, transferring them to a grandchild's education fund, or perhaps signing them over to a charity?

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Savings Bonds and gift tax

Monday, February 28th, 2005
Categorized as: Savings Bonds as gifts and prizes • Savings Bond taxes
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My father-in-law wants to make my wife co-owner of $60,000 in H bonds and send them to her. If she simply places them in a saftey deposit box, will she be liable for gift tax?

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How much should I hold back for taxes on my Savings Bond interest income?

Thursday, February 17th, 2005
Categorized as: Cashing in US Savings Bonds • Savings Bond taxes
4 Comments
I have some Savings Bonds reaching final maturity. I'd like to redeem them and reinvest in new Savings Bonds. How much of the interest income should I hold back for taxes rather than reinvesting?

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Series HH 1099s from Treasury H/HH web site

Wednesday, February 16th, 2005
Categorized as: Series HH or H US Savings Bonds • Savings Bond taxes
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My father-in-law converted some mature EE bonds to HH bonds in 2002. Shouldn't we get a 1099 with the interest information each year? If we do not get the 1099 who should we contact to get one?

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Where do 1099-INT tax forms come from?

Tuesday, February 15th, 2005
Categorized as: Savings Bond taxes
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Who sends the 1099-INT tax forms for interest received on US savings bonds?

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Tax-deferred rollovers of EE to I Savings Bonds

Thursday, February 10th, 2005
Categorized as: Series EE US Savings Bonds • Series I US Savings Bonds • Savings Bond taxes
6 Comments
Can EE savings bonds be converted to I bonds without having to pay taxes on the interest earned? Is there any way to rollover EE bonds into something else and not pay tax on the earnings of the EE bonds?

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Are Savings Bond payroll deductions pre-tax?

Friday, February 4th, 2005
Categorized as: Savings Bond taxes • Buying US Savings Bonds
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If you purchase bonds through payroll deduction at work can the deductions be taken pre-tax?

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When do Savings Bond taxes begin?

Tuesday, February 1st, 2005
Categorized as: Savings Bond taxes
4 Comments
I have some Series EE savings bonds that have reached initial maturity (12 years) but not final maturity (30 years). Do I now have to start paying taxes on the interest earned by the bonds?

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Declaring Savings Bond interest annually

Tuesday, January 4th, 2005
Categorized as: Savings Bond taxes
1 Comment
My 17-year-old son has series EE bonds that now approach 10k in value. I want to have him file a tax return this year to pay the accrued interest now and then begin paying it annually before he is in a higher tax bracket. How do I go about this?

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Do Savings Bond redemptions result in a 1099-INT or a 1099-B?

Thursday, December 2nd, 2004
Categorized as: Savings Bond taxes
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When a Series EE or Series I savings bond is redeemed, do you get a 1099-INT or is it a 1099-B as if it were a sale? How is the redemption reported on your tax return?

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How is Savings Bond interest taxed?

Monday, September 20th, 2004
Categorized as: Savings Bond taxes
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Is interest on Savings Bonds taxed at dividend rates or ordinary income rates? Do you pay state tax on US government bonds?

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Who pays the tax on inherited Savings Bonds - estate or heirs?

Thursday, July 22nd, 2004
Categorized as: Savings Bond taxes • Inheriting and bequeathing US Savings Bonds
20 Comments
I have inherited some E and EE bonds. If I cash some of them does the estate have to pay tax on the interest they've earned? They were in my mother's name and Social Security Number.

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The fine print of the US Savings Bond college education deduction

Monday, June 14th, 2004
Categorized as: Savings Bond taxes • Savings Bond college education deduction
67 Comments

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