My son was gifted a sizeable number of EE Savings Bonds over the years, which we are now planning to cash in to help pay for his education.
Many of these bonds were issued in my name, with my son as the POD (beneficiary). I understand in this case I am the sole owner of the bonds and any interest from these bonds goes on my return. Likewise, there are a few where the son is the sole owner, so the interest from those goes on his return (if needed).
However, it is totally unclear how to treat other bonds we were gifted that list my son and I as co-owners (<Dad's name> OR <son's name>.) The Treasury Direct site mentions tax implications for co-owners, but not the case where neither of the co-owners paid for the bond. How should this interest be treated? Who's return does it go on?
