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January 26, 2023
Question

I cashed in 12 "Series EE Bonds" during one visit to the bank. So is that 12 "sales" or 1?

  • January 26, 2023
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1 reply

hbl3973
Employee
January 26, 2023

YankeeJetPilot,

 

Fundamentally, as long as the total interest is reported on your return, it won't make a difference, but I suggest you add the individual interests together and just enter the total.  This follows the IRS requirement that individual entries on a schedule (Schedule B) be summed to the penny and then rounded rather than adding the rounded figures.  But the IRS computers are programmed to understand that this is not always followed even in certified tax programs and they do expect and allow for small discrepancies.  It would be best to wait for a 1099-INT form, if you haven't received one already, to confirm your total but that is not necessary so long as you have the bank's receipt(s).  Do, though, be sure to report them in Box 3, not Box 1 for the 1099-INT dialogue.