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Bonds are typically taxed in two ways: when you earn interest on the bond and any capital gain on the sale.
When you earn interest, the IRS expects you to report that income on your tax return. Whether or not that income is taxable depends on the type of bond you invest in.
For more information check: Guide to Investment Bonds and Taxes
To report in TurboTax.
the year you get the first payment.
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