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Bond taxes

Gina1212 — Wed, 19 Mar 2025 23:50:03 GMT

I had EE bonds that reached final maturity in 2023. I cashed them at the bank in 2024, but because I had read that taxes were due the year of final maturity, I included the income and paid all taxes with my 2023 return. The bank, however, submitted a 1099-INT for 2024. I don’t know whether to include an explanatory note with my 2024 taxes, or amend my 2023 taxes, or maybe there’s another option.

Re: Bond taxes

SharonD007 — Thu, 20 Mar 2025 00:10:04 GMT

It depends. Did you include the interest from your savings bond redemption on your 2023 taxes? If so, yes, you should amend your 2023 tax return because the interest wasn't reported to the IRS until 2024.

You will enter the 2024 1099-INT in the Investments and Savings section of Wages and Income. Refer to the TurboTax articles Where do I enter Form 1099-INT? for navigation instructions.