Question

Savings Bond Past Maturity

Forum|Forum|4 years ago
October 7, 2021
1 reply
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I determined I have a savings bond in my name that matured in 2019. I have not cashed in the interest at this time. Assuming I cash in the bond here in 2021, do I need to amend my 2019 taxes? My 2020 taxes? Or does this only impact my 2021 taxes?

Not A Product Question

Critter-3

If you Cash them in during 2021 it only goes on the 2021 return.

M

Mike9241

other opinions - interest needed to be reported at final maturity.

https://budgeting.thenest.com/penalty-savings-bond-past-final-maturity-31113.html

https://www.fergusonfinancialinc.com/blog/us-savings-bond-tax-trap#:~:text=Interest%20accumulated%20over%20the%20life%20of%20a%20U.S.,bond%20accumulate%20tax-deferred%20until%20the%20final%20m

D

dkimball18Author

seems like i would then 1) cash the bond 2) complete 1040X for 2019 to add the interest gained in 2019 3) I would obtain the 1099 INT and file that in my 2021 taxes?