Savings Bond Past Maturity

[dkimball18]

I determined I have a savings bond in my name that matured in 2019. I have not cashed in the interest at this time. Assuming I cash in the bond here in 2021, do I need to amend my 2019 taxes? My 2020 taxes? Or does this only impact my 2021 taxes?

[Critter-3]

If you Cash them in during 2021 it only goes on the 2021 return. 

[Mike9241]

other opinions - interest needed to be reported at final maturity.

https://budgeting.thenest.com/penalty-savings-bond-past-final-maturity-31113.html 

https://www.fergusonfinancialinc.com/blog/us-savings-bond-tax-trap#:~:text=Interest%20accumulated%20... 

[dkimball18]

seems like i would then 1) cash the bond 2) complete 1040X for 2019 to add the interest gained in 2019 3) I would obtain the 1099 INT and file that in my 2021 taxes?

[Mike9241]

while you are supposed to amend consider how much income is involved before doing so. 

if you decide to amend look at the year on the 1099. in theory, it should be for 2019, not the year cashed.  if it's for the year cashed you report on 1099-INT and then enter the same amount as an adjustment "US savings bond interest previously reported". this is so you don't get taxed on the same income twice. schedule B for the year cashed would show the 1099 amount and a subtraction labeled as such.