US Savings Bonds

Archive for the ‘Savings Bonds’ Category

Question: Savings Bonds and Name Change help?

When I got divorced, my ex and his family threatened to kidnap my kids, so I had them using my maiden name as their last name to keep them safe. In the meantime, my grandma (now deceased) gave the kids Savings Bonds, with my maiden name, and me as the POD. My SSN is on one of them. Their own is on the others.

When my oldest went into the military, he had to use the name on his birth certificate, so he no longer uses my maiden name. Will it be difficult for him to cash in his bonds?

Answer: http://www.savingsbonds.gov/instit/statreg/bbreg/bbreg.htm

On TreasuryDirect they have a PDF file which outlines the redemption procedures and addresses some of these issues. Check it out to see what you or your son will have to do to redeem them.

Humphrey Bogart

Question: Can my Series EE Savings Bonds pay for Student Loans without getting taxed?

I just graduated college and my family surprised me with some Series EE Student Loans (Tax free if going towards education if I understand correctly), I was browsing through the 8815 form for declaring interest on these bonds, and I don’t see student loan payments listed under eligible expenses, only Tuition.

Well, seeing as how I am not in school anymore, I don’t have tuition payments to make, only loan payments. Am I out of luck as far as dodging uncle sam, or can I save the reciepts I make towards student loan payments to turn in with my taxes?

Thanks in advance to anyone that can help me out, I really appreciate it! =D

Answer: You can deduct the interest paid on student loans but not the principle. Your creditor who issued you the loans should mail you a interest payment sheet detailing how much you paid in interest last year.

AFEI 2010 First Lady Luncheon – May 10, 2010

Question: Will Barack Obama order the IRS to issue tax refunds in the form of Savings Bonds?

If you are due $1000, the government will purchase a $500 bond and will mature in ten years.

Answer: Have not heard of this one to date. It could be

ROAD TO RUINATION