@VolvoGirl @Anonymous_ I cashed 19 bonds in (5 different years of maturity, all late) yesterday, 1/4/2024 and received $2,946.60 federally taxable interest income and an itemized (for each EE paper bond) receipt for same from Navy Federal Credit Union. So I know exactly the interest income for what Federal tax was due in 2019, 2020, 2021, 2022, & 2023. And of course penalties and interest will be due too (at least for 2019-2022). So the question is which of the following I should I do now:
1. Start filing amended returns for 2019-2022? I have no idea how much work this is, but they are all in TurboTax Home and Business.
2. Report the 2023 maturity bond income on the 2023 return, even though I don't have a 1099 and the profit was realized in 2024?
3. Pay the 2019-2022 tax as a Q1 2024 estimate? Seems like this could create some messy accounting and explanation issues if I end up filing any amended returns. It also doesn't handle the penalties and interest.
Looking at this list, maybe doing items 1 & 2 would solve the whole problem cleanly?
