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Level 2
posted Mar 21, 2023 3:28:25 PM

Purchasing I bonds with Refund

I've gone through the whole turbotax process to "Ready to e-file".  But am now thinking of purchasing I bonds with some of the refund.  How do I go back to actually purchase I bonds?  Going back to just reducing the amount to be applied to next year's estimated tax  doesn't give me the screen on what to do with the balance.  It just assumes I want a refund.  Also is it really true that you can't each purchase $5000 I bonds if filing jointly?  You're only limited to 1 purchase?  Thanks.

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1 Replies
Level 15
Mar 21, 2023 4:58:53 PM

On the screen that asks how you want to receive your refund, after you select Direct Deposit or "Mail me a check," scroll down to the very bottom of the screen and check the box that says you want to purchase I bonds. Then continue through the screens and you will get to the screen for purchasing I bonds. The exact sequence of screens depends on which refund method you chose.


And yes, the $5,000 limit is per tax return, not per person.