Cash method taxpayers can report the interest on Series EE, Series E, and Series I bonds in either of the following ways.
- Method 1. Postpone reporting the interest until the earlier of the year in which the bonds are cashed or disposed of or the year in which they mature.
- Method 2. Choose to report the increase in redemption value as interest each year.
- Taxpayers must use the same method for all Series EE, Series E, and Series I bonds owned.
Since you indicated the bonds matured in 2019 and 2020, Yes, you need to report the income in those years as the earlier year would be the year they mature.
In TurboTax, there is an option in the Interest income screens indicating "I need to adjust the interest report on my form." In 2021, elect this option then indicate the amount of interest to be reported in 2019 and 2020 with the reasoning, "This is Savings bond interest previously reported"