RachelW33
Expert Alumni

Get your taxes done using TurboTax

The interest should be included on your 2023 tax return.  You must report the interest from Series EE Savings bonds when you cash them OR when they reach maturity, whichever occurs first.  

 

The bank will send you a 2024 1099-INT.  To avoid paying tax on the amount twice, when you include the interest on your 2024 tax return (to match IRS records) you can include a negative adjustment for the same amount of interest to zero it out.

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