Do I need to declare the interest on US saving bonds if it is an inhertance?

After my mother past away my brother and I cashed in her saving bonds. I received the 1099-int form. Since it is part of my shared inhertance do I need to claim it?

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1 Best answer

Expert Alumni

Jun 1, 2019 12:12:56 PM

The principal of the savings bond passes to you tax free. The interest earned is taxed, however.

Your financial institution will send you a Form 1099-INT and you will report the interest on your income tax return.

Please read this TurboTax FAQ for additional information about entering a 1099-INT form: Where do I enter Form 1099-INT?

Expert Alumni

Jun 1, 2019 12:12:56 PM

The principal of the savings bond passes to you tax free. The interest earned is taxed, however.

Your financial institution will send you a Form 1099-INT and you will report the interest on your income tax return.

Please read this TurboTax FAQ for additional information about entering a 1099-INT form: Where do I enter Form 1099-INT?

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Do I need to declare the interest on US saving bonds if it is an inhertance?