my kids inherited a couple savings bonds when their gma died. my son only made 30k this year but paid $2300 tax on the interest when he just did his taxes. It was originally a $3000 bond but sold for 10k or so. I was thinking that it was under the $19k free gift and he would not have to pay capital gains on the interest?? My daughter makes no $ still a student and will not file taxes this year but has the same interest gain. does she have to file taxes just to pay 20 % capital gains on the interest. I understand each of them is now the owner of the bond not my mother since she had died. thanks.
