You'll need to sign in or create an account to connect with an expert.
final maturity is 30 years after issuance and interest must be reported at that time. it probably won't matter but please provide a full explanation of why you can not cash them.
Because of the pandemic I was unable to get to the bank
Also, when I called the IRS, the agent specified I did not need to cash it. I could wait until I cashed it and report the interest at that time
If they matured you have to report the interest.
See IRS Publication 550 starting on page 7 for Savings Bond Interest. See middle of middle column....
https://www.irs.gov/pub/irs-pdf/p550.pdf
Reporting options for cash method taxpayers. If you use the cash method of reporting income, you can report the interest on series EE, series E, and series I bonds in either of the following ways.
Method 1. Postpone reporting the interest until the earlier of the year you cash or dispose of the bonds or the year in which they mature. (However, see Savings bonds traded , later.)
Note. Series E bonds issued in 1980 matured in 2010. If you have used method 1, you generally must report the interest on these bonds on your 2010 return.
Method 2. Choose to report the increase in redemption value as interest each year.
Method 2 states to include redemption value each year. Does this mean that I still have to admend return for the matured EE bonds not cashed in 2020? I know method 1 states when they mature.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
MsSlowky
New Member
aviva
New Member
Brian-McClure
New Member
shaniquehurd
New Member
bratbarb15
New Member