US Savings Bonds

Archive for October, 2008

Question: Old US Savings Bonds – American Fed. of Labor. Trade Union.?

A friend has found some old US Savings Bonds belonging to her late grandfather who was paid with them by a US Trade Union for some building work he did many years ago.
The Bonds are payable to Brushmakers Union Local 16303, American Federation of Labor- An Unincorporated Association. 799 Broadway New York 3. N.Y.
How can she find out if they are worth anything and how can she cash them?
Is there somewhere in the US she can contact for help?

Answer: I’d try the “Treasury Hunt” system first. Then I’d contact the Treasury directly. The links are listed below.

Bond Investing : How Do I-Bonds Work?

Question: Reporting interest on tax return from series EE US Savings Bonds without a 1099?

In 2008, I cashed in series EE US Savings Bonds for a total of $188 in earned interest. I didn’t receive a 1099-INT. How do I claim this on my tax return? I’m using TaxAct Online and it is asking for ID numbers on the 1099, which I don’t have.
when using Tax Act, it won’t let me advance screens until I enter information from the 1099INT form. So frustrating!

Answer: Since you don’t have a 1099-INT, just enter the information without any tax ID numbers. That’s not mandatory information on interest income unless tax was withheld from the interest.

Question: 1: U.S. Savings Bonds are exempt from state and local taxes. Municipal bonds are exempt from federal income ta

U.S. Savings Bonds are exempt from state and local taxes. Municipal bonds are exempt from federal income tax and, sometimes, state income tax as well.
True
False

2: A “third market maker” is an order to buy or sell a stock at a specific price.
True
False

3: You should beware of a sales person encourages you to borrow money or cash in retirement funds to invest, tells you to write false information on your account form, or offers to share inside information.
True
False

4: Federal or state securities laws require brokers, investment advisers, and their firms to be licensed or registered, and to make important information public.
True
False

5: “Fiduciary” means that the person working for a client owes you the highest possible duty of care and loyalty, so that a relationship of trust and confidence exists between the client and the financial planner.
True
False

Answer: 6. Gage is going to do well on this exam, but still know nothing about investiing.

True
False

Law Day 2008 Video Contest