Savings Bonds Questions
July 5th, 2005
Question: Savings Bonds questions?
i have some questions. can i cash a savings bond woth my school id or must i have my state id and what other documents can i use. also must i cash it at a bank or is there any other way. so help
Answer: It depends on what kind of bond.
Most government bonds cannot be cashed within 5 years of issuance unless a penalty is paid.
You can cash such bonds at any large bank with proper ID, and if the bond is in your name.
Remember that you must declare the interest earned on your federal income tax for the year you cash the bonds.
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