I had paper series EE bonds that I just cashed. They reached full maturity in 2022. I will not get the INT statement until 2023 (Jan of next year for 2023 taxes). Based on this answer below in a previous post - I am required to report the interest on my 2022 tax return - as I am obligated to pay the interest in the year the bonds matured. Correct? Since that happened first? I was going to submit the interest as if I had the statement - and then next year state that I already reported the same amount.
You have a choice on when you report your bond interest. You can:
- report the interest every year or
- put off (defer) reporting the interest until you file a federal income tax return for the year in which the first of these events occurs:
- you redeem (cash in) the bond and receive what the bond is worth, including the interest, or
- you give up ownership of the bond and the bond is reissued, or
- the bonds stops earning interest because it has reached final maturity.
