Who pays the tax on interest for an i bond or EE bond in Treasury Direct cashed by a secondary owner? I assume this interest is reflected on the primary owner's 1099.
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If a U.S. savings bond is issued in the names of co-owners, such as the taxpayer and a child, or the taxpayer and spouse, then the bond's interest is generally taxable to the co-owner who purchased the bond. The table included below, from IRS Publication 17, addresses additional scenarios where there is more than one owner:
More detailed information is found in IRS Publication 17, starting at page 57.
not familiar with multiple owners but see if the section on "who owes the tax" on Treasury Direct helps
https://www.treasurydirect.gov/savings-bonds/tax-information-ee-i-bonds/
It doesn’t. It’s not that specific. This should be a fairly normal thing, no idea why it’s so difficult to get a simple answer. TD is no help.
If a U.S. savings bond is issued in the names of co-owners, such as the taxpayer and a child, or the taxpayer and spouse, then the bond's interest is generally taxable to the co-owner who purchased the bond. The table included below, from IRS Publication 17, addresses additional scenarios where there is more than one owner:
More detailed information is found in IRS Publication 17, starting at page 57.
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