US Savings Bonds

Posts Tagged ‘Savings Bonds’

Question: US Savings Bonds Question?

I have 2 US Savings Bonds, one is from 1999 and the other is from 2003. Do I have to wait a certain amount of time, for them to mature, before I can cash them in. If so how long?
Ok, so how long does it take for them to mature

Answer: You can walk into your local bank and cash them in immediately.

However, the way these work is that you buy them for half price and they earn interest over time.

So if the face amount is $100, you bought it for $50. If you walked in now, before maturity, it might be worth $75. The bank teller can tell you the exact amount and then you can decide to cash in or keep.

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Question: Stimulus Rebate Form 1040A?

My income source is Soc Sec,VA disability pension,Bank interest and 3 US Savings Bonds E that I cashed in 2007.
SS on line 14A-VA pension on line 12A. What lines are for Bank Interest-line 7? Bonds -do I use Schedule 1? Do I total all for income? Do I put Stimulus Rebate on top of form 1040A?
Where do I send it in Cleveland Ohio? I am filing for me and my wife. Both retired. Both over 75. I truly appreciate any help you can offer me.
Thank you.

Answer: IF you are not otherwise required to file a return, but are doing so to get the stimulus payments, you file 1040A and do WRITE STIMULUS across the top. The other posters have answered most of your other queries.

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Question: Savings Bonds: What is the difference between EE bonds and I Bonds?

I have purchased both I Bonds and EE bonds in the past, and it seems like the interest rate on I Bonds is much better. Why is that?

Answer: I Bonds are a better choice because they are adjusted twice per year for inflation. In the simplest terms, the interest rate will be much better that the EE bonds. The EE bond now are at a fixed rate which means that the life of the bond will be at whatever rate in which you brought it. It wasn’t like that in the past for EE bond. That change was recently made. I Bonds can be redeemed in 5 years without forfeiting any of the interest. If you redeem sooner, you will loose three months worth of interest. With both bond, you are only taxed on the federal level, not state. You can also be tax exempt for both bond if you use them for qualified educational expenses.

Treasury Direct is an excellent website for learning about and purchasing these bonds.

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