I cannot find the option to buy savings bonds with my refund. Where is this option available?

Forum|Forum|1 year ago
February 4, 2025
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DawnC

Employee

It is at the end of the filing process, where you choose how you want your refund - direct deposit, apply to next year, check, etc.

You can designate up to $5,000 of your federal refund toward up to three Series I bonds, which will be mailed to the address on the your return. You'll see the option to purchase bonds when you get to How would you like to receive your federal refund? in the File section.

When you get to that screen, select Split my refund between multiple accounts or U.S. savings bonds. Select Continue and follow the instructions.

From this TurboTax FAQ

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mesquitebean

Employee

@cleolion1

"The IRS notes that starting Jan. 1, 2025, people will no longer be able to buy paper Series I savings bonds with their tax refund. Instead, Series I bonds are available in electronic format at TreasuryDirect."

"Can I buy savings bonds with my refund?

If you plan to use all or part of your refund to buy savings bonds, you can buy paper I-bonds with your IRS tax refund until Jan. 1, 2025. After that date, the IRS will no longer provide this refund option (emphasis added), but you can buy electronic I-bonds through the U.S. Treasury’s website, TreasuryDirect."

Source: IRS refund FAQ

"Why can’t I use my tax refund to buy paper series I bonds anymore?

This option was costly and not frequently used. The mailing of physical savings bonds was also subject to fraud, theft, loss, and delays. Buying savings bonds online is simple, safe, and affordable."
Source: TreasuryDirect FAQ

https://treasurydirect.gov/research-center/faq-irs-tax-feature/