US Savings Bonds

Posts Tagged ‘savings bonds series ee’

Question: If I redeem my Series EE Savings Bonds for cash, what percent of the interest is taken out for taxes?

Say my bonds are worth $3000 and the interest earned on them is $1100, bringing their total value to $4100. If I redeem them now, how much will I receive?
How much will I have to pay on the tax form…I’m a minor.

Answer: You will owe federal income tax at your regular rate. The interest will not be subject to state income tax.

Question: What does the denomination on an EE savings bond really mean?

I have an Us Savings Bond Series EE issued in April of 2008, more than ten years ago, and the denomination on the bond says $100… what does this really mean? if I were to cash it today it’d be worth $76 and I know it was purchased originally for half the denomination, $50… so what is the $100?… any layman explanation of how these work would be greatly appreciated

Answer: Its what the bond will cash for if you hold it to its complete maturity…

Zeitgeist Addendum

US Savings Bonds series EE are popular investments but not everyone is eligible to own and purchase US Savings Bonds series EE. Electronic Series EE Bonds are only available to individuals at this time. Below are some frequently asked questions about US Savings Bonds series EE.

Who are eligible to buy and own US Savings Bonds series EE?

The following people and organizations can own US Savings Bonds series EE if they qualify:

• Individuals,
• corporations,
• associations, public or private organizations, and
• fiduciaries

Who are eligible to buy and own electronic US Savings Bonds series EE?

Only individuals can currently buy and own electronic US Savings Bonds series EE.

Do I have to be a US citizen to buy and own US Savings Bonds series EE?

Not always. You can own U.S. Savings Bonds Series EE and other US Savings Bonds if you have a Social Security Number and you’re a:

• Resident of the United States
• Citizen of the United States living abroad (must have U.S. address of record).
• Civilian employee of the United States regardless of residence.
• Minor. Unlike other securities, minors may own U.S. Savings Bonds.