turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cleolion1
New Member

I cannot find the option to buy savings bonds with my refund. Where is this option available?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies
DawnC
Expert Alumni

I cannot find the option to buy savings bonds with my refund. Where is this option available?

It is at the end of the filing process, where you choose how you want your refund - direct deposit, apply to next year, check, etc. 

 

You can designate up to $5,000 of your federal refund toward up to three Series I bonds, which will be mailed to the address on the your return.  You'll see the option to purchase bonds when you get to How would you like to receive your federal refund? in the File section.

When you get to that screen, select Split my refund between multiple accounts or U.S. savings bonds.  Select Continue and follow the instructions.

 

From this TurboTax FAQ

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

I cannot find the option to buy savings bonds with my refund. Where is this option available?

@cleolion1 

"The IRS notes that starting Jan. 1, 2025, people will no longer be able to buy paper Series I savings bonds with their tax refund. Instead, Series I bonds are available in electronic format at TreasuryDirect."

 

"Can I buy savings bonds with my refund?

If you plan to use all or part of your refund to buy savings bonds, you can buy paper I-bonds with your IRS tax refund until Jan. 1, 2025. After that date, the IRS will no longer provide this refund option (emphasis added), but you can buy electronic I-bonds through the U.S. Treasury’s website, TreasuryDirect."

Source:  IRS refund FAQ

 

"Why can’t I use my tax refund to buy paper series I bonds anymore?

This option was costly and not frequently used. The mailing of physical savings bonds was also subject to fraud, theft, loss, and delays. Buying savings bonds online is simple, safe, and affordable."
Source:  TreasuryDirect FAQ

https://treasurydirect.gov/research-center/faq-irs-tax-feature/

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question