tag:blogger.com,1999:blog-1611711622146875201.post439351916414541156..comments2024-03-28T21:23:54.204-04:00Comments on DON'T READ THIS; IT'S BORING!: US Savings Bonds Reminderslugmamahttp://www.blogger.com/profile/12728856166374248591noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-1611711622146875201.post-27764911727812910522016-11-10T13:54:50.524-05:002016-11-10T13:54:50.524-05:00We have bonds also, can't find them, long stor...We have bonds also, can't find them, long story. But they also make me feel older.Out My windowhttps://www.blogger.com/profile/13456481267171643227noreply@blogger.comtag:blogger.com,1999:blog-1611711622146875201.post-46496387621489095772016-11-10T11:35:46.853-05:002016-11-10T11:35:46.853-05:00Rules on using Savings Bonds for education are her...Rules on using Savings Bonds for education are here-- https://www.treasurydirect.gov/forms/savpdp0051.pdf<br /><br />If your financial institution won't cash them, you can send them to the Treasury Dept. I don't believe you can cash Series I bonds at a bank/cu anymore, they have to be redeemed by mail or electronically.<br />The interest earned on Series EE and I bonds are tax exempt if used for educational cost(tuition, fees)if the bond is in the taxpayer's name(and/or spouse), it was purchased after 1989 and the taxpayer was at least 24 years old at the time of it's purchase. Bonds taken out in a child's name do NOT qualify for this perk. There are also adjusted gross income limits associated with this....if you make over $X amount per year you can't claim this deduction.<br />When you cash in a bond at a bank/cu they should send you a 1099-INT so you can file the reported interest on your taxes. Savings Bond interest is NOT however taxed at the state and/or local level, just federal.<br />Hope this helps.slugmamahttps://www.blogger.com/profile/12728856166374248591noreply@blogger.comtag:blogger.com,1999:blog-1611711622146875201.post-40259580411553190202016-11-10T10:54:03.606-05:002016-11-10T10:54:03.606-05:00I had a similar plan at my work place. Though min...I had a similar plan at my work place. Though mine are I Bonds, not EE. They are still collecting interest. Haven't decided whether to use them for education or not. Would like to but I belong to a Credit Union now, and the probably won't cash them. How do you use them for tuition to not get taxed? Does the bank handle that part? <br /><br />My girls also have some bonds and stocks from birth and subsequent birthdays. Holding on to those until after they graduate so the can buy their first car or first place or what ever they need it for.<br /><br />Yours,<br />DeeCeeAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-1611711622146875201.post-62242881875102920452016-11-10T09:24:24.501-05:002016-11-10T09:24:24.501-05:00DS is are long cashed in, but DD1 has quite a few ...DS is are long cashed in, but DD1 has quite a few and I think DH has some. Those are probably 50+ years old. Great reminder. I think we have minimal for DD2 because then the college savings accounts started and folks put in those instead of bonds, not that there is much there either. SAMhttps://www.blogger.com/profile/16485146123969622896noreply@blogger.comtag:blogger.com,1999:blog-1611711622146875201.post-13028294059803870612016-11-10T08:13:55.400-05:002016-11-10T08:13:55.400-05:00Oldest daughter is 43. We purchased savings bonds ...Oldest daughter is 43. We purchased savings bonds for her and gave them to her when she wanted a new bedroom set. She handled the transaction. Youngest daughter got several when her dad died and she cashed them in for living expenses in college. No more savings bonds here.NANhttps://www.blogger.com/profile/01809533152358579455noreply@blogger.com