Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 1
posted Sep 16, 2021 3:12:00 PM

I bonds purchase with 1040X

I expect a better I bond rate in November. If I file an amended return (1040X) can I purchase I bonds when I amend my return. My filing deadline is Sept 15th.

0 5 460
5 Replies
Level 15
Sep 16, 2021 3:31:29 PM

sorry refunds on amended returns can't be used directly to but I Binds

Amended return. Don’t attach Form 8888
to Form 1040-X. A refund on an amended
return can’t be directly deposited to an
account or used to buy savings bonds.

Level 15
Sep 16, 2021 3:38:26 PM

Why can't you buy the bonds yourself when you get the refund?   What filing deadline is Sept 15?   You can efile a 2020 return and amended return until Oct 15.   After that you can print and mail returns.   You have 3 years to file for a refund.

Level 15
Sep 16, 2021 4:52:25 PM

When you amend a tax return your refund is sent as a paper check by the IRS.   There are no other options for how to get your refund for an amended return.

Level 1
Sep 16, 2021 6:04:56 PM

Thanks. There are limits on how many I bonds I can purchase annually. One avenue is via my tax return. I also max out by purchasing with cash as well.  But the tax return avenue lets me buy more I bonds than I'd otherwise be allowed. I'd hoped by amending my return I could take advantage of the likely increase in I bond interest rates set for November. Yes, my filing deadline on an extension isn't until October. Same issue.  

Level 1
Sep 16, 2021 6:05:25 PM

Thanks. Very helpful.