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I purchased US Savings Bonds for my son several years ago. He cashed them in during 2017. Will I need to pay taxes on the interest earned?

 
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I purchased US Savings Bonds for my son several years ago. He cashed them in during 2017. Will I need to pay taxes on the interest earned?

It sounds like the US Savings Bonds were in his name, since he cashed them.  Do not report your child's interest income reported under your child's Social Security number as your own income.    

The bank cashing the savings bonds usually provides a summary of the amount of interest that was paid, and what ID number they are using to report the income.  This is the person who will be responsible for the tax.   

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I purchased US Savings Bonds for my son several years ago. He cashed them in during 2017. Will I need to pay taxes on the interest earned?

It sounds like the US Savings Bonds were in his name, since he cashed them.  Do not report your child's interest income reported under your child's Social Security number as your own income.    

The bank cashing the savings bonds usually provides a summary of the amount of interest that was paid, and what ID number they are using to report the income.  This is the person who will be responsible for the tax.   

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