Comments on: Should we add our children's names to our Savings Bonds?

by: Tom Adams

Mon, 29 Mar 2010 16:08:52 +0000

Ramon - If any of them are Savings Bonds, the answer is that they are of value to the persons named on the bonds or their heirs and of no value to you. Savings Bonds are the only kind I know anything about.

Tom Adams

by: RAMON

Sat, 27 Mar 2010 18:06:42 +0000

I AM IN POSSESSION OF VARIOUS PAPER CERTIFICATES THAT NEVER BELONGED TO ANYONE IN MY FAMILY. SOME DATE BACK TO 1916. ARE THEY OF ANY VALUE TO ANYONE? THANK YOU RAMON

by: Tom Adams

Thu, 10 Dec 2009 18:03:45 +0000

Andrew - the answer to each of your questions is yes.

Tom Adams

by: Andrew Camoroda

Wed, 09 Dec 2009 22:42:38 +0000

I have several I and EE bonds in my name with my wife as co-owner. If I died first, would my wife be able to add my daughter's name as co-owner without tax consequences and will the bonds go to my daughter upon my wife's death recognizing that my daughter will have to pay taxes on the interest earned when she cashes them in.

by: Tom Adams

Tue, 22 Sep 2009 15:38:41 +0000

Carol - I have to assume you're asking about income tax on your Social Security Income, not the income itself, because you get the same amount of Social Security regardless of how much Savings Bond income you have.

Yes, if you cash in enough Savings Bonds, the interest you earn could magnify your income to an extent that would cause you to have to pay income tax on some of your Social Security Income.

The actual limit depends on a number of things - the amount of Savings Bond interest, your filing status, and your other income. It's a bit complicated to go into here, but IRS Publication 915 explains it all in great detail.

Tom Adams

by: Carol Cannizzo

Tue, 22 Sep 2009 15:16:26 +0000

Is there a limit to cashing bonds not TO AFFECT SOCIAL SECURITY INCOME?