TurboTax

File with experts
File your taxes
Experts at your fingertips

An expert helps with your taxes, or does them for you
TurboTax Expert Full Service

TurboTax Expert Assist

TurboTax Self-Employed
Prior year taxes
File myself
File myself
Do it yourself

We'll guide you step-by-step
TurboTax Do It Yourself

TurboTax Self-Employed

TurboTax Desktop
TurboTax Free

Activate your product

Prior year taxes
Business
Business
Business taxes

Get your T2 corporate return done right, your way
TurboTax Business

TurboTax Business Desktop
Tax situations
Tax situations
Tax situations

Find extra guidance for your big life moves
For investors

For 25 and younger

For self-employed

For new to Canada

For life changes
Resources
Resources
Resources

Explore tax tools, get tips, and read reviews
Personal income tax calculator

RRSP savings calculator

Learning hub

TurboTax support (FAQ)

TurboTax community
Pricing

Community

Question

I have a bond from a bank in India which was purchased 20 years ago and it matured in september last year.

Forum|Forum|3 years ago
April 18, 2023
1 reply
0 views

The actual bond proceeds were paid out this year (April 2023). Do I need to report bond proceeds in this year tax or 2022 return

TurboTax Online

You will report on the 2023 tax return.

Hi Mary:

Thank you.

Just for clarification the bond matured on September 9. 2022 but with paperwork and processing, the actual payment and closure of the bond was done on April 10,2023. So per your input, I need to report the income in my 2023 return (this year return) since 2023 is the year the bond was actually closed, processed and funds received irrespective of when it matured.

Am I right?

Regards,

Giri

You are correct, you report the income in the year the proceeds from the bond maturing are available to you.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"