US Savings Bonds

Archive for January, 2007

Question: I cashed in $8,184 in Savings Bonds To Pay For College in 2007. Tuition & Bks were $6200. Must I file taxes?

I received 2007 1099-INT forms from my bank for the bonds I cashed in, and a Federal Form 1098-T from my University for the tuition amount. I have receipts for books I purchased. If I must pay taxes, can I also deduct other expenses, like gas mileage to and from college every day?

Answer: Yes, you must file taxes and report the interest if that interest, plus any other income you have, is over the amount requiring you to file. You will use form 8815 to figure how much, if any, of the interest can be excluded. Be aware that there are a number of restrictions on the exclusion – among other things, you must have been at least age 24 when the bonds were issued – so interest isn’t necessarily excludable. Read the instructions carefully.

No you can’t deduct mileage or gas for commuting to school every day.

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A savings bond calculator helps US savings bond investors find out the value of their Savings Bonds as well as manage their savings bond portfolios. The online savings bond calculator provided by the US Department of Treasury is free.

The US government has made it easy for US savings bond investors and provide free of charge more than one type of Us Savings Bond Calculator. There is a growth savings bond calculator that is very popular for finding out what your Us Savings Bond Value would be in the future.

How to use the savings bond calculator?

Using the Us Savings Bond Calculator, you can find out the value of your US Savings Bonds one by one. The Us Savings Bond Calculator is smart and will remember the Savings Bond Value of previous Savings Bonds you entered and then total up in the end.

You will have to enter the type of savings bond you are trying to value as well as the:

• denomination of your savings bond
• serial number of the savings bond
• issue date of the savings bond

All of these information needed to use the savings bond calculator can be found on the US savings bond certificates themselves or they should be provided to you if you own electronic US Savings Bonds.

What US Savings Bonds can the savings bond calculator be used for?

This US Treasury Department Us Savings Bond Calculator can be used to calculate the value of Series EE Bonds, series E bonds and Series I Bonds as well as savings notes.

Free Download!

Savings Bond Calculator Use this free and handy calculator in conjunction with the Treasury’s savings bond calculator to find out how many years it will take to DOUBLE your money invested at a specific interest rate.

Question: whats the best saving plan for a 5 month old?

looks like i,ll be saving £1200 per year for my young one. i was thinking premium bonds as an allternative to a childs savings account at hsbc, please advise.thanks in advance

Answer: Do you have a way to save tax free for college education? That’s always a good way to grow money tax free